L3Harris Applied sciences (NYSE:LHX) on Friday introduced a divestiture of its antenna and associated companies for $200 million because the protection contractor executes its portfolio-shaping technique for non-core belongings.
The companies that L3Harris is promoting to Florida-based Kanders & Firm provide a spread of airborne and ground-based antennas and take a look at tools. They’re a part of its House & Airborne Methods phase and make use of about 375 folks.
The consideration entails about $175 million of money and a $25 million vendor word. L3Harris mentioned that the proceeds from the deal can be used per its capital allocation plans.
The acquired companies can be introduced below Kanders’ newly shaped Fisica platform.
The transaction is predicted to shut this quarter and is topic to customary closing situations and regulatory approvals.