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Tag Archives: Exelis

Harris to Keep HQ in Melbourne FL, House Critical Networks Segment in Herndon VA

HARRIS

Harris Corp. (NYSE: HRS) has decided to maintain its corporate headquarters in Melbourne, Fla. and will also base two of its four newly-formed business segments in the state following the company’s $4.75-billion purchase of Exelis that closed in May. Both the electronic systems and space and intelligence systems segments will be based in Palm Bay, ...

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Navy Picks 7 Firms to Help Design, Build Unmanned Marine Tech

mine-hunting-USV

Seven companies will compete for task orders under a U.S. Navy contract to produce hardware and software for unmanned maritime systems intended to detect mines. The Defense Department said Monday the potential three-year indefinite-delivery/indefinite-quantity contract could run through July 5, 2018 and covers design, fabrication, installation, test and evaluation, fielding, ...

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Harris Unveils Company’s New Structure Post-Exelis Acquisition; William Brown Comments

William Brown

Harris Corp. (NYSE: HRS) has unveiled the company’s new business structure that will take effect Friday, almost one month after the defense and communications technology maker closed its $4.75 billion acquisition of Exelis. Harris said Wednesday its reorganization into four business units will coincide with the end of the company’s 2016 fiscal year on Friday. ...

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Former Exelis CEO David Melcher Appointed AIA Chief Executive

David Melcher

David Melcher, formerly CEO of defense technology manufacturer Exelis (NYSE: XLS), will join the Aerospace Industries Association trade group as president and CEO on June 8, the AIA said Thursday. Melcher led McLean, Va.-based Exelis through its October 2011 spinoff from ITT Corp. (NYSE: ITT) into an independent company and May 2015 sale ...

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June 1: GovCon Index Rises, Stocks Gain on Manufacturing Data

GovConIndexUP

The GovCon Index started the week with a close in positive territory — a gain of 2.498 points, or 3.361 percent, to end the day at 76.805. Rockwell Collins (NYSE: COL), the Iowa-based avionics maker, replaced the Exelis as an Index company Monday to maintain the number of listed companies at 30. U.S. stocks climbed after ...

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May 29 Market Close: GovCon Index Dips, GDP Data Pushes US Stocks Down

GovConIndexDOWN

The GovCon Index ended the week with a close in negative territory Friday by 0.453 points to finish at 74.308. As of Monday, Rockwell Collins (NYSE: COL) will take the place formerly held by Exelis on the GovCon Index now that Harris Corp. (NYSE: HRS) has closed its $4.75 billion cash-and-stock purchase of Exelis. U.S. ...

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William Brown: Harris Closes ‘Transformative’ $4.75B Buy of Exelis

FalconRadio

Harris Corp. (NYSE: HRS) has closed its $4.75 billion cash-and-stock acquisition of Exelis nearly three months after the companies announced the transaction, which sees Harris shareholders own 85 percent and Exelis shareholders hold 15 percent in the combined company. “The Exelis acquisition is transformative for our company and marks a major ...

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Exelis to Help Test eLORAN as GPS Complement; Ed Sayadian Comments

Ed Sayadian

TYSONS CORNER, VA May 26, 2015 — Exelis (NYSE: XLS) will work on a project to demonstrate a potential backup for the Global Positioning System using the decommissioned LORAN-C ground-based radio navigation infrastructure, ExecutiveBiz reported Friday. Dubbed eLORAN, the initiative that includes UrsaNav, the Department of Homeland Security and the ...

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May 26 Morning Report: GovCon Index Down on Friday’s Close

GovConIndexDOWN

The GovCon Index closed Friday with a decline of 0.328 points at 75.067 for a second straight day of losses. Harris Corp. (NYSE: HRS) and Exelis (NYSE: XLS) both reported a jump of 1 percent following news that they are set to close the former’s acquisition of the latter on May 29 after securing approval from the Justice Department and Exelis shareholders. The Dow Jones ...

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May 22 Market Close: GovCon Index Continues Slide, Market Examines Inflation Report

GovConIndexDOWN

The GovCon Index extended its decline for the second consecutive day Friday with a loss of 0.328 points to close at 75.067. Harris Corp. (NYSE: HRS) and Exelis (NYSE: XLS) both jumped 1 percent after the companies announced Harris’ acquisition of Exelis is scheduled to close May 29 after the deal received approval from ...

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