Raytheon, UK Home Office Settle

Raytheon said today that its United Kingdom subsidiary has settled with the British Home Office, ending a years-long dispute over a contract termination.

The settlement includes a cash payment of £150 million -- or nearly $225 million -- to Raytheon Systems Limited, as the subsidiary is known, Raytheon said today.

The dispute stems from a 2010 termination of RSL's eBorders contract, which provided electronic border security.

"To avoid further uncertainty and the expense of more protracted litigation, and to strengthen their important customer relationship with the British Government, Raytheon and RSL have decided to put this matter behind them," Raytheon said today.