Aerospace and defence company Raytheon Technologies has agreed to acquire US-based small satellite manufacturer Blue Canyon Technologies (BCT).

BCT specialises in providing advanced systems and services for commercial, military and government customers worldwide.

Financial details of the acquisition have not been disclosed. The deal is subject to satisfying certain regulatory and customary closing conditions.

Following the acquisition, BCT will report into Raytheon Intelligence & Space, a business of Raytheon Technologies.

No changes will be made to the existing business name and brand. BCT will continue to serve the same customer base from its Boulder and Lafayette facilities in Colorado.

The deal will enable BCT to expand its product line of small satellite solutions, including nanosatellites, microsatellites, and ESPA-class satellites.

Blue Canyon president and CEO George Stafford said: “Raytheon Technologies is a leader in developing advanced sensors, cyber and software solutions.

“That leadership, coupled with our innovative and turnkey small-satellite solutions, will allow us to continue to disrupt the space industry and drive our customers’ success.”

In a separate development, the law firm Kessler Topaz Meltzer & Check has informed investors regarding a securities fraud class-action lawsuit filed against Raytheon Technologies.

The lawsuit was filed on behalf of those who purchased or otherwise acquired Raytheon securities between 10 February 2016 and 27 October 2020.

In April, Raytheon Company and United Technologies Corporation completed a merger.