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Tuesday, November 18, 2014

Boeing eyes revamp of cyber business to focus on key areas, (NYSE: BA)

Boeing Co said this week it is reevaluating its cybersecurity business and could divest or reassign some units as it focuses more on a few critical areas, including classified work it is doing for some U.S. government agencies. Boeing, the Pentagon's No. 2 supplier and the world's largest aerospace company, bought a handful of cybersecurity companies several years ago, but the market has not proven to be as promising as once expected.Craig Cooning, who took over as head of the Boeing division that includes satellites, networks and missile defense, said Boeing was reassessing its work in the cyber arena, which he described as a highly disaggregated market."We're looking at ... where are the businesses that we want to go all in on, and (where) there may be other businesses that are reassigned to other parts of Boeing, or that we may not do," Cooning told Reuters in an interview at his office in El Segundo, California, on Monday.Cooning said it was difficult to reach sufficient scale with a number of smaller acquisitions, particularly given the large number of customers and producers that have rushed into the sector in recent years.

The Boeing Company (Boeing) is an aerospace company. Shares of BA traded higher by 1.74% or $2.24/share to $130.66. In the past year, the shares have traded as low as $116.32 and as high as $144.57. On average, 3918840 shares of BA exchange hands on a given day and today's volume is recorded at 5701297.