A year after being acquired by Raytheon Technologies Corp. [RTX], Blue Canyon Technologies said the investment has paid off for the company and that it has reorganized into four business units.
Tuesday marked the one-year anniversary of Blue Canyon’s $426 million acquisition by RTC’s Raytheon Intelligence & Space (RI&S) segment.
“Raytheon’s investment has allowed Blue Canyon to scale production to dramatically reduce spacecraft time leads and offer end-to-end solutions,” Stephen Steg, CEO of Blue Canyon Technologies, said in a statement. “With RI&S’ light touch integration, our customers truly get the best of both worlds. The agility and innovation of a small business, and the deep technical expertise and strategic resources of a global organization.”
Blue Canyon, which operates a subsidiary of RTC and has retained its name, said it has increased its workforce by 33 percent in the past year. The company had more than 200 employees at the time it was acquired by RTC.
Blue Canyon said it has 60 aircraft in production and its Mission Operations division will support 27 missions in 2022.
The four core business units that Blue Canyon operates through are CubeSats, Microsats, Components, and Mission Operations.
The acquisition of Colorado-based Blue Canyon gave RTC a small, agile, responsive company well positioned in the growing space market for rapidly produced comprehensive solutions.
“Coupled with our existing capabilities, Blue Canyon Technologies allows us to provide end-to-end space mission solutions to our customers,” Paul Meyer, vice president for space and C2 systems at RI&S, said in a statement.