Hughes Aircraft was acquired by General Motors in 1985. In 1995, Hughes Aircraft sold its automated wire and die bonder division to an investor group led by Citicorp and incorporated the division as Palomar Technologies. In 2008, Citicorp sold the bonder division to the current management team at Palomar Technologies . GM sold off the aerospace and defense operations during the late 1990s; Hughes Aircraft was sold to Raytheon in 1997 and the Hughes Research Laboratories became jointly owned by Boeing, GM, and Raytheon. Raytheon has since sold its share to GM and Boeing, but remains a customer of Hughes Research Laboratories. Hughes Space and Communications Company was purchased by Boeing in 2000 and renamed Boeing Satellite Development Center. GM sold the remainder of Hughes Electronics to