(MENAFN) US defense contractor Raytheon announced it is investing USD1.9 billion to create a cybersecurity firm to fight growing threats in the business sector, AFP reported.
Raytheon said it struck a deal with Vista Equity Partners to form a new firm combining Vista's Websense with Raytheon Cyber Products, a unit of Raytheon's Intelligence, Information and Services segment.
Raytheon said it would invest USD1.57 billion in cash to acquire 80.3 percent ownership of the Texas-based Websense, and provide a USD600 million loan to the joint venture.
"The market for advanced cyber solutions that protect and defend global industry and infrastructure is rapidly growing due to the sophisticated threats posed by criminal networks," Raytheon chairman said.
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