Raytheon pays USD350m for BBN

Raytheon reportedly paid USD350m to acquire R&D innovator BBN in a deal announced in September. Investors Accel Partners and General Catalyst Partners are believed to have made more than USD100m apiece from the acquisition, suggesting each owned a third of BBN.

BBN is thought to have been of particular interest to Raytheon as it boasts intellectual property dating from the second world war, including many early internet technologies.