Harris completes sale of broadcast business
Broadcast communications goes to Gores Group affiliate for $225 million
- By Mark Hoover
- Feb 07, 2013
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.
Mark Hoover is a senior staff writer with Washington Technology. You can contact him at firstname.lastname@example.org, or connect with him on Twitter at @mhooverWT.