Try Jim Cramer's Action Alerts PLUS
Transportation

Harris Corp. Buying Unit Of Closely Held SolaCom

The Associated Press

06/04/09 - 04:40 PM EDT

MELBOURNE, Fla. (AP) — Harris Corp., which makes radios and communications equipment for military and commercial customers, said Thursday it has signed a deal to acquire the air traffic control unit of privately held Canadian company SolaCom Technologies Inc. for an undisclosed price.

Harris expects to complete the purchase by the end of June. The deal is subject to closing conditions.

Harris said the deal will help the company support the Federal Aviation Administration's air transportation system.

Harris is the prime contractor for the $3.5 billion, 15-year FAA Telecommunications Infrastructure program. The company is upgrading and improving telecommunications and operations functions at more than 4,000 FAA facilities nationwide.


Brokerage Partners