• Monday, June 5, 2023

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


FalconRadioHarris 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… and marks a major milestone in Harris’ 120-year history, ” Harris CEO William Brown said Friday.

Harris – the Melbourne, Fla.-based radio maker — said in a subsequent filing with the Securities and Exchange Commission that McLean, Va.-based Exelis will operate as a subsidiary of Harris.

Exelis shareholders approved the deal May 22, a day after the Justice Department gave antitrust clearance for the transaction.

Video of the Day

GovCon Wire Logo

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings about M&A Activity

Related Articles

Software Development Company iNovex Buys Secure Innovations M&A Activity

Software Development Company iNovex Buys Secure Innovations

Columbia, Maryland-based iNovex has acquired cybersecurity company Secure Innovations as the Enlightenment Capital-backed software development services provider aims to position itself as a middle-market player in the defense and intelligence sectors. Secure Innovations CEO Doug Jeruzal will join the combined entity as a key leader with oversight of cybersecurity programs, iNovex said Thursday. Founded in
Viasat Closes Inmarsat Purchase; Mark Dankberg Quoted M&A Activity

Viasat Closes Inmarsat Purchase; Mark Dankberg Quoted

Viasat (Nasdaq: VSAT) has closed its acquisition of U.K.-based satellite communication services provider Inmarsat as part of a move to bring additional satcom offerings to the government and other sectors. “The combination of our companies brings together the people, technology, innovation, network assets, spectrum resources and global partnerships needed to help connect the world more
SilverEdge Expands Digital Design, Engineering Services With Gardetto Purchase; Robert Miller Quoted M&A Activity

SilverEdge Expands Digital Design, Engineering Services With Gardetto Purchase; Robert Miller Quoted

SilverEdge Government Solutions has acquired Gardetto Engineering for an undisclosed sum as part of efforts to grow digital design and engineering service offerings for U.S. defense and intelligence community customers. Hanover, Maryland-based Gardetto helps customers to develop, model and implement algorithms in digital signal processing systems, SilverEdge said Tuesday. The acquired entity also designs field
Become a Registered Reader
Register to enjoy unlimited access to articles, interviews, and invaluable govcon content. You'll also receive our daily briefing straight to your inbox.

This will close in 0 seconds