Raytheon CEO says Forcepoint will not be a 'long-term part' of Raytheon Technologies

Forcepoint, Raytheon's cyber business, will not a be a "long-term part of the [Raytheon Technologies] portfolio," according to Tom Kennedy, the chief executive of Raytheon.

Raytheon is in the process of merging with United Technologies to become Raytheon Technologies.

Raytheon executives said last month the company is in negotiations with Vista Equity Partners about the value of Forcepoint. The two created the company in 2015 through a joint venture.

Speaking at a conference hosted by Baird today, Kennedy said "there's no specific time frame" for Forcepoint's divestiture.

"I wouldn't think of them as a long-term part of the RTX portfolio," he said. "They're doing some good things . . . and I think we'll go to market at the right time, relatively speaking, from a position of strength."