By Colin Kellaher

 

L3Harris Technologies Inc. on Tuesday said it agreed to sell its electron-devices business to private-equity firm Arlington Capital Partners for $185 million.

The Melbourne, Fla., aerospace and defense technology company said the sale brings total gross proceeds from completed and announced divestitures since the 2019 merger of Harris Corp. and L3 Technologies to about $2.7 billion.

Arlington said the L3Harris business, which has more than 800 employees across three facilities, will operate independently as Stellant Systems and will serve as a standalone platform for the Chevy Chase, Md., private-equity firm in the mission-critical defense-electronics market.

L3Harris, which completed the divestitures of its military training and combat-propulsion-systems businesses during the second quarter, said it expects to close the sale of the electron-devices business by the end of the year.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

August 03, 2021 08:44 ET (12:44 GMT)

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