Harris Corporation completes sale of its CapRock Communications business to SpeedCast International

Harris Corporation of Melbourne, FL announced on January 3 that it  has completed the previously announced sale of its CapRock Communications commercial business to SpeedCast International Limited for $425 million in cash. Proceeds from the transaction will be used to pay down debt and return cash to shareholders.

CapRock, which was part of the company’s Critical Networks segment, is a premier global provider of managed satellite, terrestrial and wireless communications solutions for the cruise and energy markets.

Source: Harris Corporation