Search This Blog

Saturday, February 07, 2015

Harris To Acquire Exelis, Merging U.S. Government Suppliers

Harris and Exelis combinedHarris Corp. announced on February 6 that it will acquire Exelis for $4.75 billion, combining two major U.S. government and military contractors. Melbourne, Fla.-based Harris expects the transaction to close in June, subject to approval by Exelis shareholders and regulatory vetting.

The combined company will be named Harris. It will have revenue of $8.2 billion, 23,000 employees and supplier positions in U.S. government space, weather, air traffic management and military tactical communications systems.

In a fiscal year second-quarter earnings call with analysts, Harris chairman, president and CEO William Brown described the acquisition as a “transformational” and “highly strategic” merging of two engineering companies with complementary offerings.

Read more
om

No comments:

Post a Comment

Note: only a member of this blog may post a comment.

Subscribe to: Post Comments (Atom)

Fair Use Notice

This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.

The material is being made available in an effort to advance understanding arms trade activities, for non-profit research and educational purposes only.

I believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law.

If you wish to use this copyrighted material for purposes of your own that go beyond 'fair use,' you must obtain permission from the copyright owner.

This is a completely non-commercial site for private personal use. No fee is charged, and no money is made off of the operation of this site.