L3Harris Technologies announced on April 5 that it has signed a definitive agreement under which an affiliate of Kanders & Company, Inc. will acquire its antenna and related businesses for $200 million. The transaction is expected to close this quarter and is subject to customary closing conditions and regulatory approvals.
The agreement aligns with L3Harris’ portfolio-shaping strategy for non-core assets, with transaction proceeds to be used consistent with capital allocation plans. The transaction is made up of $175 million of cash at closing and a $25 million seller note.
The businesses L3Harris will divest offer a variety of airborne and ground-based antennas and test equipment. They are part of the Space & Airborne Systems segment and employ approximately 375 people.
Source: L3Harris
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