Light Reading Mobile – Telecom News, Analysis, Events, and Research
LR Cable News Wire Feed  

Harris Sells of Broadcast Biz for $225M

February 05, 2013 |
MELBOURNE, Fla. -- Harris Corporation (NYSE:HRS) has completed the previously announced sale of its Broadcast Communications business to an affiliate of The Gores Group, LLC for $225 million. The price includes $160 million in cash, a $15 million subordinated promissory note and an earnout of up to $50 million based on future performance. The purchase price is subject to customary adjustments.

Harris announced December 6, 2012 that it had reached an agreement to sell Broadcast Communications to The Gores Group, LLC as part of the company’s strategy to optimize its business portfolio and focus on its core businesses.

Harris Corp.



Currently we allow the following HTML tags in comments:

Single tags

These tags can be used alone and don't need an ending tag.

<br> Defines a single line break

<hr> Defines a horizontal line

Matching tags

These require an ending tag - e.g. <i>italic text</i>

<a> Defines an anchor

<b> Defines bold text

<big> Defines big text

<blockquote> Defines a long quotation

<caption> Defines a table caption

<cite> Defines a citation

<code> Defines computer code text

<em> Defines emphasized text

<fieldset> Defines a border around elements in a form

<h1> This is heading 1

<h2> This is heading 2

<h3> This is heading 3

<h4> This is heading 4

<h5> This is heading 5

<h6> This is heading 6

<i> Defines italic text

<p> Defines a paragraph

<pre> Defines preformatted text

<q> Defines a short quotation

<samp> Defines sample computer code text

<small> Defines small text

<span> Defines a section in a document

<s> Defines strikethrough text

<strike> Defines strikethrough text

<strong> Defines strong text

<sub> Defines subscripted text

<sup> Defines superscripted text

<u> Defines underlined text

Network Computing encourages readers to engage in spirited, healthy debate, including taking us to task. However, Network Computing moderates all comments posted to our site, and reserves the right to modify or remove any content that it determines to be derogatory, offensive, inflammatory, vulgar, irrelevant/off-topic, racist or obvious marketing/SPAM. Network Computing further reserves the right to disable the profile of any commenter participating in said activities.

 
Disqus Tips To upload an avatar photo, first complete your Disqus profile. | View the list of supported HTML tags you can use to style comments. | Please read our commenting policy.
 
Most Popular
Read
White Papers SPONSORED CONTENT
Featured
Resource Library SPONSORED CONTENT
Orthogonal Frequency Division Multiplexing (OFDM)
A modulation scheme where one high-speed signal is split into multiple lower-speed signals