By Hiawatha Bray
The Boston Globe
September 2, 2009
Raytheon Co. has struck an agreement to buy BBN Technologies, a
privately held Cambridge firm that played a vital role in the creation
of the Internet.
Raytheon said the deal should close before the end of the year. The
price was not disclosed, and executives of Raytheon, a Waltham-based
defense contractor, and BBN declined to comment further.
BBN, founded in 1948 by Massachusetts Institute of Technology professors
Richard Bolt and Leo Beranek and MIT graduate Robert Newman, began as an
acoustics research business.
Early on, it won a contract to do acoustic-design work in the General
Assembly Hall of the United Nations building in New York City. The
company, which has about 700 employees in seven US facilities, now
mainly does contract research and development work for military and
other government agencies.
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