Raytheon and the Saudi Arabia Military Industries Company (MIC) have signed a Memorandum of Understanding (MoU) to cooperate on defense-related projects and technology development.

The agreement covers Air Defense Systems, Smart Munitions, C4I Systems and Cyber Security of Defense Systems and Platforms.

As part of the new agreement, Raytheon plans to establish Raytheon Arabia, a Saudi legal entity wholly-owned by Raytheon based in Riyadh.