07.12.12

Harris finds buyer for Broadcast Communications Division

Harris Corporation's digital signage interests have been revived as a global investment firm agrees to buy the company's Broadcast Communications division.

Harris approved a plan to divest its Broadcast Communications division in May 2012, stating that the unit was no longer aligned with its long-term strategy.

On December 6, 2012 Harris confirmed that Broadcast Communications would be sold to an affiliate of The Gores Group, LLC for $225 million.

Ryan Wald, managing director of The Gores Group, said: "In Harris Broadcast Communications, we are investing in a proven technology leader with great products and a great team.

"We are excited to provide the capital and support to transition this division to a strong and independent company further enabling it to continue developing and delivering market leading technologies to its customers."