Harris Selling Government IT Business To Private Equity Firm Veritas

Friday, January 27th, 2017

Harris Selling Government IT Business To Private Equity Firm Veritas

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

Harris Corp. [HRS] on Friday said it has agreed to sell its $1 billion government information technology services business to the private equity firm Veritas Capital for $690 million in cash, a deal the company said allows it to focus on its core businesses.The company’s air traffic management business is not part of the sale and will now operate within the Electronic Systems segment.The acquisition is subject to regulatory approval and is expected to close in the second quarter of…

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Harris Selling Government IT Business To Private Equity Firm Veritas

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