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The Raytheon Company was a major U.S. defense contractor and industrial corporation with manufacturing concentrations in weapons and military and commercial electronics. Founded in 1922, it merged in 2020 with United Technologies Corporation to form Raytheon Technologies, [3] which changed its name to RTX Corporation in July 2023.
In 1950 the company was sold to a group of investors, including its founder, and became Amana Refrigeration, Inc. [5] In 1954, it began making air conditioners. [6] Amana was acquired in 1965 by Raytheon, [7] which had invented the microwave oven in 1947, and introduced the commercial Radarange Model 1611 in 1954. [5]
The combined company, valued at more than $100 billion after planned spinoffs, would be the world's second-largest aerospace-and-defense company by sales behind Boeing. [21] Although UTC was the nominal survivor, the merged company was headquartered at legacy Raytheon's former base in Waltham, Massachusetts. [22] The merger was completed in ...
On Wednesday, RTX Corporation (NYSE:RTX) said Raytheon has secured a three-year, two-phase contract from DARPA to develop foundational ultra-wide bandgap semiconductors. These will be based on ...
Raytheon also divested itself of several nondefense businesses in the 1990s, including Amana Refrigeration and Seismograph Service Ltd (sold to Schlumberger-Geco-Prakla). In November 2007, Raytheon purchased robotics company Sarcos, [20] and in October 2009, Raytheon acquired BBN Technologies.
Raytheon will pay a $146.8 million criminal penalty to resolve that criminal fraud case and another $428 million to resolve related civil claims brought under the False Claims Act.
Two years later, the Amana Society sold off the Electrical Department to an investment group organized by Foerstner. Renamed Amana Refrigeration, Inc., the company grew to manufacture refrigerators and air conditioners. The Raytheon Corporation purchased Amana Refrigeration on January 1, 1965, although the Amana division was mostly autonomous. [55]
A wholly owned subsidiary of United Technologies Corporation, UTC Climate, Controls & Security was a $16.7 billion company with 55,000 employees serving customers in more than 180 countries. [ 5 ] In 2020, United Technologies spun off this subsidiary into the independent Carrier Global Corporation .