Raytheon Technologies Corporation has completed the all-stock merger of equals transaction between Raytheon Company and United Technologies Corporation following the completion by United Technologies of its previously announced spin-offs of its Carrier and Otis businesses.
Upon closing of the merger, United Technologies’ name has changed to "Raytheon Technologies Corporation," and its shares of common stock will begin trading on the NYSE under the ticker symbol "RTX." United Technologies shareowners will continue to hold their shares of United Technologies common stock, which now constitute shares of common stock of Raytheon Technologies Corporation.
The combined company expects to introduce breakthrough technologies at an accelerated pace across areas such as hypersonics, directed energy, avionics and cybersecurity. In addition, Raytheon Technologies says it has a strong balance sheet and cash flows to support critical business initiatives, including company and customer-funded R&D.
"Raytheon Technologies brings together two companies with combined strengths and capabilities that make us uniquely equipped to support our customers and partners during this unprecedented time. We will also play our part in the war on the COVID-19 pandemic, including doing everything we can to keep our employees around the globe safe and well," said Greg Hayes, CEO of Raytheon Technologies. "As we move forward, Raytheon Technologies will define the future of aerospace and defense through our focus on innovation, our world-class people and our financial and operational strength to create long-term value for our customers and shareowners."
Raytheon Technologies has four segments focused on high-priority areas for customers including Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. Raytheon Technologies’ executive leadership team is comprised of Tom Kennedy, Executive Chairman, Greg Hayes, Chief Executive Officer, and Toby O’Brien, Chief Financial Officer.