Raytheon is investing almost $1.7 billion to to acquire Websense and move into the cybersecurity market for banks and retailers.
The move would see it create a stand-alone business that would enable it to utilise its technology which has previously been put to use with the U.S. military and intelligence agencies.
Raytheon, is expected to announce that it has bought 80% control of Websense Inc, from private-equity firm Vista Partners. This will form the core of a cyber joint venture between the two.
Raytheon has been making a strong push into the cybersecurity industry, with 14 acquisitions since 2007, which have helped to grow its portfolio.
Raytheon is expected to invest $965 million in cash, alongside a $600 million loan and $400 million of existing cyber assets, while Vista will invest $335 million and hold a 20% stake in the yet unnamed venture.
