Harris Corp. has received a four-year, $113 million contract from the U.S. Naval Sea Systems Command (NAVSEA) to upgrade the Navy's primary long-range, three-dimensional defense radar. The contract includes an initial $39 million order and three one-year options. The contract was received in the first quarter of Harris' fiscal 2016.
Harris Corp. has received a $10 million order from an Eastern European nation to supply high-performance, high-frequency (HF) tactical radios that will create long-range, secure communication networks and enable users to connect seamlessly with coalition partners.
Harris Corp. has been awarded a single-source IDIQ contract with a ceiling value of $390 million to supply a new specialized handheld tactical radio to U.S. Special Operations Forces (SOF). The IDIQ contract consists of a five-year base and an additional one-year option.
Harris Corp. has received a $21 million order from a Latin American nation for Falcon III® tactical radios that will be used to establish high data rate networks as part of a military communications modernization program.
Harris Corp. has received a $97 million order to provide the U.S. Naval Air Systems Command with self protection jammers for the integrated defensive electronic countermeasures (IDECM) program. The order was received during the fourth quarter of Harris' fiscal 2015.
Harris Corp. has received a $36 million order from the United States Marine Corps (USMC) to supply Harris Falcon III® AN/PRC-117G multiband networking manpack radios that will enhance and extend voice and data connectivity down to the squad level.
Harris Corp. completed its previously announced acquisition of Exelis Inc. Each outstanding share of Exelis common stock converted into the right to receive $16.625 in cash and 0.1025 of a share of Harris common stock. Harris shareholders own 85 percent of the combined company and Exelis shareholders own 15 percent.
Harris Corp. has been awarded a 10-year (5-year base, 5 option years) $3.9 billion ceiling, multi-award IDIQ contract from the U.S. Army for rifleman radios and associated services under the Joint Tactical Radio System (JTRS) Handheld, Manpack and Small-form Fit (HMS) program.
Harris Corp. and Exelis, Inc. announced a definitive agreement under which Harris will acquire Exelis in a cash and stock transaction valued at $23.75 per share, or an approximately $4.75 billion enterprise value. The agreement has been unanimously approved by the boards of directors of both companies. The transaction is expected to close in June 2015 and is subject to customary closing conditions, including regulatory and Exelis shareholder approval.