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Wednesday, July 5, 2006

Raytheon acquires mission-simulation co.


Military contractor Raytheon Co. of Waltham said today it bought privately held mission-simulation company Virtual Technology Corp.

Financial terms of the deal were not disclosed.

Virtual Technology, which is based in Alexandria, Va., and employs 125 people, creates simulation programs used by the Department of Defense to train military and security personnel.

Raytheon is the nation's fifth-largest defense contractor, with 80,000 employees worldwide and 2005 revenue of $21.9 billion.

Raytheon shares fell 49 cents to $43.96 in morning trading on the New York Stock Exchange. (AP)

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