Harris Corporation and L3 Technologies to Combine in Merger of Equals to Create a Global Defense Technology Leader
L3 Technologies and Harris Corporation have agreed to merge in an all-stock deal, the two companies announced Sunday, creating a $33.5 billion military technology company.
The combined company will be called L3 Harris Technologies and will be based in Melbourne, Fla., the home of Harris Corporation. Its 12-member board of directors will consist of six members from each company. The deal is expected to close next year, pending a review by the Defense Department.
“L3 Harris Technologies will possess a wealth of technologies and a talented and engaged workforce,” L3 chief executive Chris Kubasik said in a news release. “By unleashing this potential, we will strengthen our core franchises, expand into new and adjacent markets and enhance our global presence.”…