RTX Sells Cybersecurity Unit for $1.3B

RTX, formerly known as RayTheon Technologies, has recently announced the sale of its cybersecurity business for $1.3 billion. The buyer has not yet been disclosed. This news was revealed in the company’s financial report for the third quarter of 2023, which also stated that RTX’s defense equipment sales totaled $13.5 billion, a decrease of 21% compared to the same period last year.

RTX positions its cybersecurity business as the protection of important information, systems, and operations using advanced technology and world-class specialists. Their services range from digital security services to secure products.

Although there is no official confirmation, the media has speculated that the potential buyer could be the private investment company BlackStone.

According to Defense News’ analysis, RTX ranks as the second-largest defense contractor in the world in terms of defense income.

The sale of RTX’s cybersecurity unit reflects a continuing trend of consolidation and specialization in the military technology market. Large players in the industry, like RTX, often focus on their core business and divest non-core assets. This provides specialized cybersecurity companies with an opportunity to expand their capabilities.

/Reports, release notes, official announcements.