WASHINGTON — Raytheon Co. of Waltham, Mass., has agreed to purchase defense and homeland security company BBN Technologies, according to a Sept. 1 Raytheon press release.

BBN Technologies, a private company headquartered in Cambridge, Mass., employs 700 people at seven locations around the United States, the release said. The company specializes in advanced networking and information technologies, sensor systems and cyber security, and it will become part of Raytheon’s Network Centric Systems division based in McKinney, Texas. The purchase price was not provided.