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Oakley Networks, a developer of cyber-security technology, has agreed to be purchased by defense contractor Raytheon Co., Raytheon announced Thursday. Terms of the deal were not disclosed. Oakley develops Internet security software that combines an enterprise-monitoring application with visual investigation and forensics tools. Oakley's clients are U.S. government agencies and Fortune 500 companies, Raytheon added. Founded in 2001, Oakley employs some 200 people and is based in Salt Lake City, Utah. The firm has raised more than $25M in venture capital, with most recently funding in August of 2006, when it scored a $12M round from Duff Ackerman & Goodrich Ventures. The firm also previously raised funding from Kleiner, Perkins, Caufield & Byers and Fidelity Ventures.
posted on Thursday, September 20, 2007

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