07.05.12

Harris turns back on DOOH solutions

Harris Corporation has approved a plan to divest its Broadcast Communications division including the company's DOOH solutions.

The news came as the company announced third quarter results and said the unit was no longer aligned with Harris’ long term strategy.

William M. Brown, president and chief executive officer of Harris Corporation, said: "The decision to divest Broadcast Communications resulted from a thorough review of our business portfolio, which determined that the business is no longer aligned with the company's long-term strategy. The plan to sell these assets supports our disciplined approach to capital allocation, and we intend to use the proceeds to return cash to shareholders and invest in growing our core businesses."