Shortly after the Racal acquisition, Thomson-CSF conducted a strategic review of its portfolio of businesses. It adopted a new organisational structure comprising three business areas: defence, aerospace, and information technology and services. Management decided that the company ought to leverage its dual-purpose technology, marketing itself towards particular civil markets that held strong parallels with its established defence and aerospace competencies, such as mobile telecommunications. Meanwhile, non-strategic assets were divested. Thomson-CSF also explored business opportunities further afield. In December 2000, it was announced that the company was forming a joint venture with the American defense company Raytheon. This arrangement was claimed to be first transatlantic joint venture in the defence sector.