The acquisition follows the announcement of a definitive agreement reached between both the companies last month.
The acquisition enables BCT to strengthen its product line, including small satellite solutions such as nanosatellites, microsatellites, EELV Secondary Payload Adapter (ESPA)-class satellites, and associated technology.
Blue Canyon Technologies president and CEO Technologies George Stafford said: “Raytheon Intelligence & Space delivers the disruptive technologies customers need to succeed.
“Joining this team will enable our innovative small-satellite solutions to continue to transform the space industry and drive our customers’ success.”
Financial details of the deal have not been disclosed by the companies.
Following the completion of the transaction, BCT now reports into Raytheon Intelligence & Space.
BCT designs, manufactures, tests, and operates small spacecraft, including airspace components and system buses.
Blue Canyon Technologies will continue to operate under the existing business name and brand, as well as serve its customers from its facilities in Boulder and Lafayette, Colorado.
The satellite manufacturer recently opened its new 80,000ft² Satellite Constellation Factory headquarters and production facility in Lafayette.
It is currently engaged in building more than 90 spacecraft for government, commercial as well as academic missions.
It supports missions for the US Air Force, Nasa and the Defense Advanced Research Projects Agency (DARPA).
Last week, Blue Canyon Technologies reached the critical design review (CDR) milestone in the development of the DARPA’s Blackjack programme.