BBN, one of the more established companies in Cambridge,  has agreed to be bought by Raytheon.  BBN was established way back in 1948 by 2 MIT professors Richard Bolt and Leo Beranek.  They later added a former student Robert Newman.  They employ 700 across 7 locations here in the US.  Headquartered right off of Concord Ave it has long been a landmark of sorts in that part of Cambridge.

The Boston Globe’s Hiawatha Bray does a good job of covering the history of BBN and it’s ownership changes to Verizon back to private with venture capital money from Accel Partners and General Catalyst Partners and now to the upcoming sale to Raytheon.

With BBN’s strong R&D expertise it seems like a great fit with Raytheon.  I worked for Raytheon for 5 years right out of college.  It has navigated successfully through many recessions.  It continues to win government contracts that add stability to the company.  This stability and the fact that it is a Massachusetts based company should help make the acquisition a win-win for both BBN Technologies and Raytheon.  Hopefully the jobs will remain in Cambridge.

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