Harris completes sale of broadcast business

Harris has completed its divestiture of its broadcast communications business to an affiliate of the Gores Group LLC for $225 million.

The price includes $160 million in cash and a $15 million subordinated promissory note, and an earnout of up to $50 million based on performance in the future, the company said.

Harris put the business up for sale so it could focus resources on its government communications and systems businesses.