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[transport-communications] Orbital Purchase of Raytheon's Transportation Mgmt. Solutions Business Unit

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  • I95BERNIEW@aol.com
    Orbital Completes Purchase of Raytheon s Transportation Management Solutions Business Unit Acquisition Positions Company as Market Leader in Satellite-Based
    Message 1 of 1 , Jan 4, 1999
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      Orbital Completes Purchase of Raytheon's Transportation Management Solutions
      Business Unit

      Acquisition Positions Company as Market Leader in Satellite-Based

      Vehicle Location Systems

      DULLES, Va., Jan. 4 -- Orbital Sciences Corporation (NYSE: ORB) announced
      today that it completed the purchase of Raytheon Company's Transportation
      Management Solutions business unit on December 31, 1998 for a cash price of
      approximately $21 million. Orbital will combine the former Raytheon
      organization with its own Intelligent Transportation Systems (ITS) Division to
      form an expanded unit that will be called Orbital's Transportation Management
      Systems (TMS) Division.

      As a result of the purchase, Orbital's TMS Division will be the country's
      leading supplier of automatic vehicle location (AVL) systems that use
      satellite and terrestrial communications and positioning technologies to
      enable local area transportation authorities to better manage mass transit bus
      and rail systems, as well as fleets of highway maintenance vehicles. Orbital
      will also gain a new product line of fleet management software for utilities
      and other companies.

      "The transportation management systems that were produced by Raytheon are
      complementary to those marketed by our ITS Division," said Mr. Robert D.
      Strain, Orbital's Executive Vice President and General Manager of its
      Electronics and Sensor Systems Group. "Orbital will now offer the industry's
      most advanced and cost-effective transportation management solutions at a time
      when these systems are becoming indispensable to operators of public transit
      systems and vehicle fleets."

      The Raytheon division employed approximately 75 people at facilities in
      Linthicum, Maryland and State College, Pennsylvania, all of whom are expected
      to join Orbital as a result of the purchase, expanding Orbital's TMS work
      force to more than 200 people.

      Mr. David L. Mathison, who served as General Manager of the Raytheon division,
      said, "The prospect of combining the capabilities of the two divisions within
      Orbital's space technology business operations is extremely exciting to
      everyone involved."

      Raytheon Company, based in Lexington, Massachusetts, is a global technology
      leader that provides products and services in the areas of commercial and
      defense electronics, engineering and construction, and business and special
      mission aircraft. Raytheon has operations throughout the United States and
      serves customers in more than 80 countries around the world.

      Orbital is one of the largest space and information systems companies in the
      world, with 1998 revenues of approximately $750 million. The company, which
      is headquartered in Dulles, Virginia, employs 4,500 people at it major
      facilities in nine states and several international locations. Orbital is the
      world's leading manufacturer of low-cost space systems and products, including
      satellites, launch vehicles, electronics and sensors, satellite ground systems
      and software, and satellite-based navigation and communication products.
      Through its ORBCOMM and ORBIMAGE affiliates, Orbital is also a pioneering
      operator of satellite networks that provide data communications and high-
      resolution imagery services to customers all around the world.

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