DRS acquires part of Raytheon Ground EO and FPA businesses

17 Jun 2002

DRS Technologies, Inc., has entered into an agreement with Raytheon Company to purchase a portion of Raytheon's Second Generation Ground Electro-Optical Systems business and a portion of Raytheon's Focal Plane Array business. The Ground EO business was acquired by Raytheon from Hughes Aircraft Company in December 1997 and the FPA business was part of Texas Instruments prior to Raytheon's acquisition of that company's defense business. In addition to complying with Raytheon's divestiture agreement with the U.S. Department of Justice stemming from those mergers, the purchase expands DRS' electro-optical systems capabilities.