Harris Corp. realigns company after Exelis acquisition
Harris Corp. announced Wednesday that it is reorganizing its business segments to increase operational efficiency connected to its recent acquisition of Exelis Inc.
The Melbourne-based international communications and information technology company acquired McLean, Va.-based Exelis in a cash-and-stock transaction valued at $23.75 per share — a $4.75 billion deal — earlier this year.
Exelis is a global aerospace, information and services company.
Exelis acquisition will stretch Harris Corp.’s credit to the limit
“We combined Harris’ and Exelis’ top talent and technology to create four market-focused segments aligned with Harris’ strategic growth platforms,” said William M. Brown, chairman, president and CEO of Harris Corp. “Our new structure will help us improve our competitive position, increase efficiency, and capture synergies, while we continue to bring innovative and affordable solutions to our customers.”