WASHINGTON — Defense company RTX said it’s selling its cybersecurity business for $1.3 billion to an unnamed buyer.
The sale of the Cybersecurity, Intelligence and Services division was disclosed in the company’s third-quarter results for 2023, when sales totaled $13.5 billion, a decline of 21% from the same period a year earlier.
Reuters on Oct. 24 named the prospective buyer as private-equity firm Blackstone. C4ISRNET could not independently verify the matter, and an RTX spokesperson declined to share additional information.
The company bills its cybersecurity business as protecting “the most critical information, systems and operations with breakthrough technology and world-class talent.” Its offerings range from digital security services to secure communications products.
RTX is the second-largest defense contractor in the world when ranked by defense-related revenue, according to the Defense News Top 100 list.
The company, formerly known as Raytheon Technologies, rebranded to the three-letter moniker that matches its stock market ticker earlier this year. CEO Greg Hayes at the time said the reworked name was “a nod to the past and a nod to the future.”
Colin Demarest is a reporter at C4ISRNET, where he covers military networks, cyber and IT. Colin previously covered the Department of Energy and its National Nuclear Security Administration — namely Cold War cleanup and nuclear weapons development — for a daily newspaper in South Carolina. Colin is also an award-winning photographer.