Raytheon Revs Up Growth With Bold Websense Cyber Venture

April 20, 2015 3:38 PM

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Raytheon Revs Up Growth With Bold Websense Cyber Venture

Raytheon Raytheon disclosed early Monday that it is acquiring cybersecurity firm Websense and will form a joint venture with Vista Equity Partners to greatly expand the defense company’s global cyber offerings. The new venture, in which Massachusetts-based Raytheon will hold an 80% stake, would subsume its cyber-products business and the much larger Websense network-security enterprise that Vista took private in 2013. Company executives say the move will accelerate Raytheon’s efforts to offer “defense-grade” cyber solutions to civil and commercial customers while generating growth rates and margins superior to those prevailing in its military hardware markets.

I talked to several principals involved in the transaction on Sunday, including Raytheon Chairman & CEO Thomas Kennedy and Websense CEO John McCormack (Raytheon contributes to my think tank). To say they are excited about the pending business combination would be an understatement. From Kennedy’s ...

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