L3Harris Completes Sale of its Narda-MITEQ Business

Rhea-AI Summary

L3Harris Technologies (NYSE:LHX) has finalized the sale of its Narda-MITEQ business to an investment affiliate of J.F. Lehman & Company. Narda-MITEQ, previously part of L3Harris’ Aviation Systems segment, specializes in high-performance amplifiers and components for radiofrequency and microwave systems. This move aligns with L3Harris' strategy to streamline operations and focus on core areas while continuing to deliver advanced defense and commercial technologies globally, supported by approximately $18 billion in annual revenue.

Positive

• Completion of the sale of Narda-MITEQ may enhance operational focus and streamline business segments.

Negative

• None.

MELBOURNE, Fla.--(BUSINESS WIRE)-- L3Harris Technologies (NYSE:LHX) has completed the sale of its Narda-MITEQ business to an investment affiliate of J.F. Lehman & Company.

Narda-MITEQ was part of L3Harris’ Aviation Systems segment and provides high performance amplifiers, integrated microwave assemblies, pin diode switches, safety and measurement instrumentation, and other components for use in radiofrequency and microwave systems.

About L3Harris Technologies

L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across space, air, land, sea and cyber domains. L3Harris has approximately $18 billion in annual revenue and 47,000 employees, with customers in more than 100 countries. L3Harris.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211207005451/en/

Rajeev Lalwani

Investor Relations

Rajeev.Lalwani@L3Harris.com

321-727-9383

Jim Burke

Media Relations

Jim.Burke@L3Harris.com

321-727-9131

Source: L3Harris Technologies

FAQ

What business has L3Harris Technologies sold?

L3Harris Technologies has sold its Narda-MITEQ business.

Who acquired Narda-MITEQ from L3Harris?

Narda-MITEQ was acquired by an investment affiliate of J.F. Lehman & Company.

What was the role of Narda-MITEQ within L3Harris?

Narda-MITEQ was part of L3Harris’ Aviation Systems segment and specialized in components for radiofrequency and microwave systems.

What are the financials of L3Harris Technologies?

L3Harris Technologies has approximately $18 billion in annual revenue.

What is the stock symbol for L3Harris Technologies?

The stock symbol for L3Harris Technologies is LHX.