In latest defense merger, L3 and Harris agree to form a $33.5-billion military technology giant [Los Angeles Times (CA)]
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Source: Los Angeles Times
In latest defense merger, L3 and Harris agree to form a $33.5-billion military technology giant L3 Communications Inc. and Harris Corp. have agreed to merge in an all-stock deal, the two companies announced this week, creating a $33.5-billion military technology company. The combined company would be called L3 Harris Technologies and based in Melbourne, Fla., the home of Harris. The deal is expected to close next year, pending a review by the Defense Department. "L3 Harris Technologies will possess a wealth of technologies and a talented and engaged workforce," L3 Chief Executive Chris Kubasik said in a news release. "By unleashing this potential, we will strengthen our core franchises, expand into new and adjacent markets and enhance our global presence." Both companies have built military communications empires focused on networking and surveillance capabilities that are built into larger defense systems. Harris handles complex military communications networks for battlefield manage
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