:

Business/Financial

Harris Completes Sale Of Government IT Business To Veritas

By Cal Biesecker

Monday, May 1st, 2017

SHARE:

Harris Completes Sale Of Government IT Business To Veritas

Harris Corp. Chairman, President and CEO William Brown. Photo: Harris

Harris Corp. [HRS] on Friday said it has completed the sales of its government information technology (IT) services business to the private equity firm Veritas Capital for $690 million in cash, which will be used to support its cash deployment strategy.The deal was first announced in January (Defense Daily, Jan. 27).Harris said it will use the proceeds from the sale for pension pre-funding and share repurchases.Harris sold the business to focus on its core technology businesses.The $1 billion government IT…

Congress

Warren And Sheehy Renew Call for “Right to Repair” In NDAA

Sen. Elizabeth Warren (D-Mass.) and Sen. Timothy Sheehy (R-Mont.), two members of the Senate Armed Services Committee (SASC), are renewing their call for “Right to Repair” language in the National […]

HASC Looks To Restrict USV Deliveries Without Navy CONOPS And Strategy

The House Armed Services Committee’s (HASC) fiscal year 2027 defense policy draft bill aims to restrict the Navy’s use of unmanned surface vessels (USV) until it decides on key factors […]

Congress

Gaps In Army’s Tactical Counter-Drone Capabilities Remain Concern Of HASC

A draft defense policy bill released this week says the Army is fielding counter-drone capabilities for defense of fixed sites and maneuver forces but suggests that troops at the lowest […]

Army

HASC Wants Closer Look At Army’s SBMC Program, Cites Avoiding Past IVAS Missteps

The House Armed Services Committee (HASC) wants a closer look at the Army’s Soldier Borne Mission Command (SBMC) effort, citing support for the development program while expressing caution to avoid […]