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Harris Stratex Networks Inc., a specialist in backhaul solutions for mobility and broadband networks, announced that the Harris Board of Directors has approved the spin-off to Harris shareholders of its majority position in the company.
"We look forward to the next chapter of Harris Stratex Networks as a fully independent company," said Harald Braun, Harris Stratex President and CEO. "There is no question that the future of broadband wireless communications presents us with significant growth opportunities. Coupled with the significant progress we have made across our business, we believe that our ability to strengthen our position in this market space and execute on our strategy is now enhanced as an independent company. The decision by the Harris Corp. board to pursue an orderly distribution of its Harris Stratex shares will present to a broader investor base the opportunity to unlock greater shareholder value over time.
"We continue to execute our growth strategy by making the game-changing transition to IP networks. In addition, we recently acquired Telsima Corp. to accelerate our expansion into new and emerging markets and to enhance our 4G networking strategy," added Braun.