RTX Sells Blue Canyon Technologies to MDA Space for $620 Million
RTX•RTX Corp’s Raytheon unit divests Blue Canyon Technologies to MDA Space for $620 million in cash, transferring over 400 employees and two Denver sites. The sale boosts RTX’s liquidity, refines its defense portfolio and awaits CFIUS approval ahead of a planned year‐end close.
1. Asset Sale Details
RTX Corp’s Raytheon business has agreed to sell Blue Canyon Technologies LLC to MDA Space Ltd. for $620 million in cash. The deal includes the transfer of more than 400 employees and two production facilities in Denver, along with U.S. security clearances for classified defense work.
2. Impact on RTX Financials
The transaction will inject $620 million of liquidity into RTX, providing capital for debt reduction or reinvestment in core segments. Blue Canyon is forecast to generate $160 million in revenue this year, representing a lift from $115 million in 2023, which RTX will no longer consolidate.
3. Strategic Rationale for RTX
RTX is streamlining its defense portfolio to focus on higher-margin systems and prime contracting capabilities. Divesting a small satellite and spacecraft component manufacturer aligns with the company’s shift toward integrated defense solutions and long-cycle projects.
4. Transaction Timeline and Approvals
Completion of the sale is subject to regulatory clearances, including a national security review by the Committee on Foreign Investment in the United States. RTX and MDA Space target a closing before the end of the calendar year.
