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L3Harris Technologies, Inc. (NYSE: LHX) is a dynamic global aerospace and defense technology innovator, providing advanced solutions to meet mission-critical needs across multiple domains including space, air, land, sea, and cyber. With an annual revenue of approximately $18 billion and a workforce of 47,000 employees, L3Harris serves customers in over 100 countries.
The company specializes in C4ISR systems, which encompass command, control, communications, computers, intelligence, surveillance, and reconnaissance. L3Harris also produces uncrewed aerial vehicles, sophisticated sensors, and avionics systems, and offers military and commercial training services. Notably, it maintains the U.S. Federal Aviation Administration's communications infrastructure, ensuring seamless operations and safety.
In July 2023, L3Harris acquired Aerojet Rocketdyne, a prominent supplier of rocket motors, bolstering its capabilities in the space and defense industry. This acquisition marks a significant step in expanding the company’s portfolio and enhancing its role in critical aerospace systems.
Recent developments include the creation of the Fisica platform through the sale of certain antenna and test equipment businesses to Kanders & Company for $200 million. This strategic move is expected to foster growth and innovation in the defense sector.
Additionally, L3Harris has entered into a five-year contract with Iridium Communications for the Iridium® Satellite Time and Location (STL) service. This partnership ensures robust timing synchronization for L3Harris’s nationwide communication networks, crucial for supporting the National Airspace System operations.
L3Harris is committed to delivering cutting-edge technologies and services that address the evolving demands of defense and commercial markets. With a solid financial foundation and strategic partnerships, the company is well-positioned for future growth and success.
L3Harris Technologies (NYSE: LHX) has completed the acquisition of Viasat Inc.'s (NASDAQ: VSAT) Tactical Data Links product line, known as Link 16, for $1.96 billion. This acquisition is expected to enhance L3Harris's capabilities in resilient communication and networking, broadening their user base across multiple domains. The deal, originally announced in October 2022, received all necessary regulatory approvals by December 2022.
L3Harris Technologies (NYSE: LHX) has appointed Samir Mehta as the new president of its Communication Systems segment, effective immediately. Mehta brings extensive aerospace and defense experience, previously serving as President at Collins Aerospace and holding key roles at Sikorsky Aircraft. He succeeds Dana Mehnert, who retires after 38 years. In his new role, Mehta will oversee business strategy and operational execution for a diverse portfolio, including tactical radios and night vision technology, aiming for growth and innovation within the defense sector.
L3Harris Technologies (NYSE: LHX) has announced the signing of a definitive agreement to divest its Visual Information Solutions business to NV5 Global Inc. (NASDAQ: NVEE) for an expected benefit of up to
L3Harris Technologies (NYSE:LHX) announced it has received all regulatory approvals for acquiring Viasat's Tactical Data Link product line, known as Link 16. The deal, initially expected to close in H1 2023, is now set to finalize by January 3, 2023. This acquisition involves nearly 450 employees and approximately $400 million in annual sales, enhancing L3Harris's capabilities in tactical data communication for defense applications. CEO Christopher Kubasik expressed enthusiasm about starting this modernization effort ahead of schedule.
L3Harris Technologies (NYSE: LHX) has announced a definitive agreement to acquire Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD) for $58 per share, totaling approximately $4.7 billion including net debt. This acquisition aims to enhance L3Harris's defense capabilities and foster innovation in missile technologies and hypersonics. With Aerojet generating about $2.3 billion in annual revenue, the merger is expected to close in 2023, pending regulatory approvals. L3Harris intends to leverage synergies between the two firms to deliver superior solutions for the Department of Defense and strengthen the defense industrial base.
L3Harris Technologies (NYSE:LHX) announced the delivery of the first four out of more than 100 T7™ explosive ordnance disposal robots to the U.S. Air Force. This initial delivery is part of an
Spirit Airlines (NYSE: SAVE) has partnered with L3Harris (NYSE: LHX) to launch the Spirit Wings Pilot Pathway in Central Florida. This program is designed to create a pipeline of skilled pilots, with training conducted at L3Harris’ Flight Academy. Graduates will have the chance to advance to a Spirit First Officer position after meeting specific flight hour requirements. The airline plans to expand rapidly, adding 33 new aircraft in 2023, increasing growth opportunities for pilots. Spirit has also been recognized for diversity and excellence in aviation safety.
L3Harris Technologies (NYSE: LHX) has achieved National Fire Protection Association certification for its XL Extreme™ 400P radio and XL Extreme Speaker Microphone. These devices meet stringent standards for operating in extreme environments, ensuring durability against heat, immersion, shock, and other conditions. The certification guarantees clear audio and reliable connectivity, enhancing firefighter safety. Nino DiCosmo, President of Public Safety and Professional Communications, emphasized the product's ruggedness as crucial for first responders' operational demands.
L3Harris Technologies has been awarded a contract valued at up to
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