WASHINGTON, Jan 30 (Reuters) - Raytheon Co is closely watching for possible acquisition opportunities among low- and mid-tier defense companies that can have future growth, but will not buy just to boost revenues, Chief Executive Officer William Swanson said Thursday.
“Right now the mid- and lower-tiers are facing some ... pressure,” Swanson told analysts on an earnings conference call, adding he thought at least some of the companies would be looking for buyers going forward.
He said Raytheon’s strong balance sheet put it in a good position for acquisitions, but it was not looking to simply buy revenue.
“Just to buy something for revenue sake, that never works,” Swanson said. “But where it fits in, especially where we see future growth, then that would be the case.”