You may recall that on April 20, 2015, Raytheon announced the formation of a joint venture with leading private equity firm, Vista Equity Partners, to create a first-of-its-kind commercial company specifically designed to meet the needs of the evolving cybersecurity environment. The joint venture combines Websense, a leading provider of Data Theft Prevention solutions and Vista Equity Partners portfolio company, with Raytheon Cyber Products, the products-focused portion of Raytheon's overall cyber business.

I am delighted to inform you that today, Raytheon has completed this joint venture transaction. For more information on this announcement, please refer to the press release.

Last month, I outlined how the creation of this joint venture sets an unprecedented standard in the industry – defense-grade cybersecurity for organizations worldwide. We are all incredibly excited at the prospect of developing a next-generation platform based on the deep cybersecurity synergies that exist within this joint venture. The combined strengths of Raytheon Cyber Products and Websense will empower you to defend against threats, detect successful breaches, make actionable decisions based on context and defeat the advanced and vast scope threats you face. We are calling this vision: 4D Cybersecurity – Defend, Detect, Decide and Defeat. An additional key component of this combined new company will be our long-standing cross domain business. We will continue to invest and expand on our cross domain market leadership position and support our extensive customer base.

Our goal, as always, is to deliver more value to your existing security investments and ensure that we continually innovate and stay ahead in this incredibly dynamic and complex security environment. I will lead the new company as CEO, which will be headquartered in Austin, Texas and reported as a fifth business segment of Raytheon. Until our corporate naming and branding project is complete, the new company will be known as Raytheon|Websense.

We will keep you updated on this joint venture throughout the coming weeks as the integration proceeds. In the meantime, if you have any questions, please contact your account manager or email RaytheonWebsense.

Thank you for your continued support.

Your security is always our priority.

John R. McCormack
Chief Executive Officer
Websense, Inc.