
EMCORE Corp. [EMKR] on Tuesday said it has agreed to acquire the Space and Navigation business of L3Harris Technologies [LHX] for $5 million in cash in a deal that expands its fiber optic gyroscope (FOG) product suite into the markets for strategic grade and space-qualified systems. The acquisition is expected to close by the end of June. For L3Harris, the sale is part of its exit of non-core businesses, which is nearly complete. “We will also gain a technical team…