Raytheon And United Technologies Agree To Massive Merger

Raytheon, the Waltham defense contractor, is merging with Connecticut neighbor United Technologies.

The combined company will be headquartered in Greater Boston and become the country's second-biggest in aerospace and defense. We're talking roughly $75 billion in annual sales — more than Lockheed Martin or Northrop Grumman, and second only to Boeing.

So, what does this mean for Massachusetts?

Jon Chesto, Boston Globe business reporter. He tweets @jonchesto.