U.S. Markets open in 9 hrs 17 mins

Raytheon And Estonian Ministry Of Defense To Collaborate On Cyber Security

Kevin Riley

Raytheon Company (NYSE: RTN) announced Monday that it "agreed to explore long-term collaboration in the area of cyber security" with the Estonian Ministry of Defense, according to a press release.

Permanent Secretary of the Estonian Ministry of Defense Mikk Marran said, "Strong defense-industrial cooperation between the United States and Estonia is in our country's strategic interest. Raytheon is one of the most prominent global defense and aerospace companies, with expertise in providing integrated defense systems and state-of-the-art cyber security solutions. It's our privilege to collaborate with Raytheon Company."

The specific areas of cooperation will be defined in a future meeting in Tallinn between representatives from Estonia's Ministry of Defense and Raytheon.

"Raytheon has developed a very strong portfolio of national-scale cyber defense solutions that complement the investments and innovations made by Estonia in securing the cyber domain for its people," said David C. Wajsgras, President of Raytheon Intelligence, Information and Services.

Raytheon closed at $110.99, up 1.58 percent.

See more from Benzinga

© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.