January 3, 2017
Harris Corporation (NYSE:HRS) has completed the previously announced sale of its CapRock Communications commercial business to SpeedCast International Limited (ASX: SDA) for $425 million in cash. Proceeds from the transaction will be used to pay down debt and return cash to shareholders.
CapRock, which was part of the company’s Critical Networks segment, is a premier global provider of managed satellite, terrestrial and wireless communications solutions for the cruise and energy markets.
About Harris Corporation
Harris Corporation is a leading technology innovator, solving customers’ toughest mission-critical challenges by providing solutions that connect, inform and protect. Harris supports customers in more than 100 countries and has approximately $7.5 billion in annual revenue and 21,000 employees worldwide. Learn more at harris.com.
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