Raytheon completes merger with United Technologies. Raytheon is headquartered in Waltham, Massachusetts, and UTC is based in Farmington, Connecticut. Creates the world’s most advanced aerospace and defense systems provider. While there is "some overlap in the defense portfolios," Byron Callan, a defense analyst with Capital Alpha Partners, wrote Sunday in a note to investors obtained by the trade publication Defense Times, "there do not appear to be any major issues that would lead to objections from the Pentagon.". O'Brien is the current CFO of Raytheon Company. Mathematician Nassim Nicholas Taleb suggests SpaceX CEO Elon Musk doesn’t understand the spread of risk in complex systems. "This huge potential merger raises very sweeping and serious questions and doubts about its impact on the Connecticut workforce and economy, as well as our national security and defense," Blumenthal said in a statement. Today's announcement follows the recent selection of Anthony "Toby" O'Brien as chief financial officer for the new Raytheon Technologies. And no offense to Otis and Carrier, but Raytheon is a far superior asset. The deal brings together four business units. United Technologies Corp. struck a deal to acquire military contractor Raytheon Co., continuing the sprawling industrial conglomerate's transformation into a company focused on aerospace and defense. Serves customers worldwide through a platform-agnostic, diversified portfolio of industry-leading businesses. , April 3, 2020, 5:57 AM PDT. Before World War II, the government relied on a mix of federally-funded arsenals and civilian companies to provide war materiel, though after the war that trend shifted to private industry providing the bulk of the Pentagon's needs, according to a report on industry consolidation released earlier this year from the Center for Strategic and International Studies, a Washington-based think tank. The proposed deal intensifies the consolidation in the aerospace and defense industry as plane makers seek better terms from suppliers and the Pentagon puts more pressure on contractors to cut costs and invest more of their own money in new technologies such as space systems and cybersecurity. Simon Dawson / Bloomberg via Getty Images file. Several activist investors had pushed UTC to split, and Mr. Hayes has openly expressed his preference for smaller, more focused companies. The companies said Raytheon Technologies would settle in the Boston area, a development that troubles Sen. Richard Blumenthal, D-Conn., a member of the Armed Services Committee. The deal was described as the largest ever in the defense and aerospace industry, far eclipsing United Technologies' purchase of Rockwell Collins, a major maker of avionics and aircraft parts, for $30 billion in 2017. Two are from UTC: jet engine maker Pratt & Whitney, with 2019 sales of $21 billion; and Collins Aerospace, with sales of $22 billion. Rivals Honeywell International Inc. and General Electric Co. are both shaving off units to streamline their businesses. In a stunning announcement Sunday, United Technologies Corp said it reached a deal to merge with defense contractor Raytheon Co. and plans to … The companies, with a total market value of roughly $166 billion, would become the world's second-largest aerospace-and-defense company by sales behind Boeing Co., with annual revenue of more than $70 billion last year. In addition to other benefits from increased scale, analysts say the proposed deal could help the enlarged company weather any slowdown in the commercial aerospace and defense markets. UTC and Raytheon executives have said the merger is expected to be completed in the first half of 2020. The Journal first reported Saturday that the two sides were nearing a deal. United Technologies and Raytheon Complete Merger of Equals Transaction. United Technologies Corp. and Raytheon Co. announced a “merger of equals” Sunday in which UTC, Connecticut’s largest private employer, will no … UTC has about 2,500 employees overall in North Carolina, and has announced plans to add 1,500 in the state as part of a 35,000 companywide employee … The rationale for the split was clear in the company's first-quarter results as the aerospace portions of its business posted strong growth. The merger, the largest of the year so far, will have to be approved by competition authorities and was questioned by Donald Trump on Monday. By Carten Cordell – Staff Reporter, Washington Business Journal . UTC and Raytheon are both well positioned in the F-35 program, where production is increasing. Raytheon and United Technologies announced on Sunday that they will merge, creating a behemoth American aeronautics and defense company. The deal unites Pratt & Whitney engines used on commercial planes and the F-35 combat jet, with Raytheon, which produces missiles such as the Tomahawk together with radars and other electronic-warfare systems. --Thomas Gryta and Ben Kesling contributed to this article. IE 11 is not supported. United Technologies (UTC) and Raytheon recently announced their merger in an all-stock deal billed as a “merger of equals”. There were 2-large merger announcements which included United Technologies and Raytheon merging and... Related searches. UTC Announces Merger With Raytheon Around 100 employees will move to the new headquarters. The deal would create an aerospace and defense behemoth second only to Boeing Co. Missiles stand at a Raytheon installation during the Farnborough International Airshow in Farnborough, England, in July 2018. UTC’s current leader, Greg Hayes, will serve as CEO of the merged company, with Raytheon CEO Tom Kennedy as executive chairman for two years. 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