Harris Stratex Networks Majority Ownership Under Evaluation by Harris
December 09 2008 - 3:30PM
PR Newswire (US)
RESEARCH TRIANGLE PARK, N.C., Dec. 9 /PRNewswire-FirstCall/ --
Harris Stratex Networks, Inc. (NASDAQ:HSTX), a leading specialist
in backhaul solutions for mobility and broadband networks,
announced that Harris Corporation (NYSE:HRS) is evaluating
strategic alternatives to reduce its majority ownership in the
company. Harris currently owns 56 percent of Harris Stratex
Networks, which was formed January 26, 2007, through the
combination of the Harris Microwave Communications Division and
Stratex Networks, Inc. We recognize that the future relationship is
subject to review based on the strategic fit of the two companies.
With the new strategic growth plan established by Harris Stratex,
both companies recognize they are addressing different markets with
different business models. "Over the past two years, we have
established ourselves as a global leader in our focus markets,"
said Harald Braun, Harris Stratex Networks president and CEO. "We
have made significant changes and investments in both our
organizational structure and product offering, with an emphasis on
leading-edge IP solutions. These technology advancements have
enabled us to expand our global customer base and increase revenues
year-over-year. Going forward, we are confident that we are well
positioned to execute on our plan." About Harris Stratex Networks,
Inc. Harris Stratex Networks, Inc. is a leading specialist in
backhaul solutions for mobility and broadband networks. The company
offers reliable, flexible and scalable wireless network solutions,
backed by comprehensive professional services and support. Harris
Stratex Networks serves all global markets, including mobile
network operators, public safety agencies, private network
operators, utility and transportation companies, government
agencies and broadcasters. Customers in more than 135 countries
depend on Harris Stratex Networks to build, expand and upgrade
their voice, data and video solutions. Harris Stratex Networks is
recognized around the world for innovative, best-in-class wireless
networking solutions and services. For more information, visit
http://www.harrisstratex.com/. DATASOURCE: Harris Stratex Networks,
Inc. CONTACT: Investors: Mary McGowan, Summit IR Group Inc.,
+1-408-404-5401, ; Media: Shaun McFall, Harris Stratex Networks,
Inc., +1-408-944-1608, Web site: http://www.harrisstratex.com/
http://www.harris.com/
Copyright
Harris (NYSE:HRS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Harris (NYSE:HRS)
Historical Stock Chart
From Jul 2023 to Jul 2024