Waltham-Based Raytheon Announces Merger, Gov. Baker Optimistic

WALTHAM, MA — After Raytheon, which is headquartered in Waltham, announced this weekend it plans to merge to form one of the world's biggest defense contractors, it raised the question, what does that mean for the city?

"Hopefully the new company will maintain its economic presence in Waltham," Mayor Jeannette McCarthy told Patch.

Although representatives from Raytheon indicated the new company would be based in the Commonwealth, they said it was too early to say if the company would stay in the Watch City or what, exactly, the merger would mean here.

"We are excited about our merger with United Technologies. But, it is only Day One! As new details about the combined company – Raytheon Technologies Corporation – are available, we will share them," said Raytheon spokesperson Mike Doble in an email to Patch.

Governor Charlie Baker told reporters he was optimistic about what it means for the state.

"It will probably take them six to nine months, anyway, to close the deal, and I imagine over that period of time some of that stuff will probably get worked out, but the really positive thing in this, they said point-blank that people are so fired up about the quality of the talent in Massachusetts that that made this decision a lot easier for both companies," Baker told reporters Monday afternoon at the State House.

From 1922 to 1928 the company was headquartered in Cambridge before it moved to Newton until 1941. It then moved to Waltham for 20 years, until 1961 and then over to Lexington until 2003. That year it moved to an 11 acre site on Winter Street, where it still sits today.

Raytheon plans to consolidate its four businesses into two businesses to be named Intelligence, Space & Airborne Systems and Integrated Defense & Missile Systems. The new businesses will join Collins Aerospace and Pratt & Whitney to form the four businesses of Raytheon Technologies.

The company announced the merge wouldn't be complete until next year.

While in Massachusetts and in Waltham folks are cautiously optimistic, in Connecticut there's a bit of concern.

"This huge potential merger raises sweeping & serious questions & concerns about its impact on the CT workforce & economy, as well as our national security & defense. I’ll demand answers immediately & publicly & will be fighting to protect CT jobs & workers every step of the way," said U.S. Sen. Richard Blumenthal, a Democrat from Connecticut, on Twitter.

Raytheon is one of the largest U.S. defense contractors, and makes missiles — including the Patriot system — and cybersecurity tools. United Technologies, based in Connecticut, was founded in 1934 and makes aerospace and building products, such as airplane engines and spacesuits.

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