Raytheon says new U.S. civilian cyber contract worth about $1 billion

Raytheon Co on Monday said a new five-year contract it won from the U.S. Department of Homeland Security to help more than 100 civilian agencies manage their computer security could be worth $1 billion, a key win for the company.

Raytheon said DHS selected it to be the prime contractor and systems integrator for the agency's Network Security Deployment (NSD) division, and its National Cybersecurity Protection System (NCPS). The contract runs for five years, but some orders could be extended for up to an additional 24 months, it said.

Dave Wajsgras, president of Raytheon Intelligence, Information and Services, said the company had invested over $3.5 billion in recent years to expand its cybersecurity capabilities. He said cybersecurity incidents had increased an average of 66 percent a year worldwide between 2009 and 2014.