MELBOURNE, Fla. and
HOUSTON, July 30 /PRNewswire-FirstCall/ -- Harris
Corporation (NYSE: HRS), an international communications and
information technology company, has completed its previously
announced acquisition of CapRock Communications. Privately
held CapRock was purchased for
$525 million in cash, subject to
post-closing adjustments. Private equity firm ABRY Partners
was the majority owner of CapRock.
CapRock Communications CEO Peter
Shaper will serve as president of the business, which will
operate as a wholly owned subsidiary of Harris Corporation.
With nearly three decades of experience, CapRock Communications
is a premier global satellite communications provider for the
energy, government, maritime, engineering and construction and
mining industries as well as for disaster recovery services.
The company uses the latest field-proven satellite
technologies to deliver highly-reliable managed communications
services, including broadband Internet, voice over IP, secure
networking and real-time video, to the world's harshest and most
remote locations. CapRock leverages best-of-breed
partnerships, technical expertise and a robust global
infrastructure that includes four self-owned and operated teleports
and eleven regional support centers across North America, Central and South America, Europe, West
Africa and Asia Pacific.
More information about CapRock
and the acquisition is available at www.harris.com.
About Harris Corporation
Harris is an international
communications and information technology company serving
government and commercial markets in more than 150 countries.
Headquartered in Melbourne,
Florida, the company has approximately $5 billion of annual revenue and more than 15,000
employees — including nearly 7,000 engineers and scientists.
Harris is dedicated to developing best-in-class assured
communications® products, systems, and services.
Additional information about Harris Corporation is available
at www.harris.com.
Forward-Looking Statements
This press release contains forward-looking statements that
reflect management's current expectations, assumptions and
estimates of future performance and economic conditions. Such
statements are made in reliance upon the safe harbor provisions of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. The company cautions investors
that any forward-looking statements are subject to risks and
uncertainties that may cause actual results and future trends to
differ materially from those matters expressed in or implied by
such forward-looking statements. Statements about the expected
value and anticipated benefits of the transaction to Harris are forward-looking and involve risks
and uncertainties. Other factors that may impact the company's
results and forward-looking statement may be disclosed in the
company's filings with the SEC. Harris disclaims any
intention or obligation, except as imposed by law, to update or
revise any forward-looking statements, whether as a result of new
information, future events, or otherwise.
SOURCE Harris Corporation