Raytheon Company is a major American defense contractor and industrial corporation with core manufacturing concentrations in defense systems and defense and commercial electronics. It was previously involved in corporate and special-mission aircraft until early 2007. Raytheon is the world's largest producer of guided missiles.
In an effort to establish leadership in the defense electronics business, Raytheon purchased in quick succession Dallas-based E-Systems (1995), Chrysler Corporation's defense electronics and aircraft-modification businesses (1996) (portions of these businesses were later sold to L-3 Communications), and the defense unit of Texas Instruments - Defense Systems & Electronics Group (1997). Also in 1997, Raytheon acquired the aerospace and defense business of Hughes Aircraft Company from Hughes Electronics Corporation — a subsidiary of General Motors, which included a number of product lines previously purchased by Hughes Electronics including the former General Dynamics missile business, the defense portion of Delco Electronics (Delco Systems Operations), and Magnavox Electronic Systems.
Raytheon, often in conjunction with Boeing, Lockheed Martin or Northrop Grumman, is also heavily involved in the satellite sensor business.
Texas Instruments (NYSE: TXN), widely known as TI, is an American company based in Dallas, Texas, United States, renowned for developing and commercializing semiconductor and computer technology. TI is the No. 4 manufacturer of semiconductors worldwide after Intel, Samsung and Toshiba, and is the No. 2 supplier of chips for cellular handsets after Qualcomm, and the No. 1 producer of digital signal processors (DSPs) and analog semiconductors, among a wide range of other semiconductor products. Due to very early understanding of the Internet back in spring 1986, the company was the 13th firm to register its domain name, the famous TI.com. It is one of the 58 global brands to be in the Internet Hall of Fame owning a two letter domain name. As of 2009, the company was listed at number 215 on the Fortune 500.
As the defense industry consolidated, TI sold its defense business to Raytheon in 1997 for $2.95 billion. The Department of Justice required that Raytheon divest the TI Monolithic Microwave Integrated Circuit (MMIC) operations after closing the transaction.