L3Harris Technologies, listed as LHX on the New York Stock Exchange, has entered into a final agreement for the sale of its antenna operations and associated divisions to a subsidiary of Kanders & Company, Inc.
The deal, valued at $200 million, is anticipated to be finalized within this quarter, pending standard closing conditions and regulatory consents.
This sale is in line with L3Harris’ strategy to reshape its portfolio by divesting non-essential assets, with the intention to utilize the proceeds in accordance with its capital allocation strategy. The financial terms include $175 million in cash upon completion and a $25 million promissory note from the seller.
The divested entities, which are engaged in the production of various airborne and ground-based antennas as well as testing apparatus, fall under the Space & Airborne Systems business segment and have a workforce of around 375 employees.
As a leading innovator in the defense sector, L3Harris Technologies prioritizes the mission-critical requirements of its clientele.
The company’s 50,000-strong workforce is dedicated to providing comprehensive technological solutions that span across space, air, land, maritime, and cyber domains, safeguarding national security.
Kanders & Company, Inc., headquartered in Palm Beach, Florida, is a private family office under the ownership and management of Warren B. Kanders. With over three decades of investment experience in both public and private enterprises across diverse industries, Mr. Kanders actively contributes to operational enhancement and the promotion of sustained growth.
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