L3Harris Merger News
MELBOURNE, FLA.
Jul 1, 2019
L3Harris Technologies (NYSE:LHX) today announced the successful completion of the all-stock merger between Harris Corporation and L3 Technologies on June 29, 2019. Headquartered in Melbourne, Florida, L3Harris is the sixth largest defense company in the U.S., and a top 10 defense company worldwide – with approximately $17 billion in revenue and 50,000 employees, including 20,000 engineers and scientists.
Shares of Harris common stock, which traded on the NYSE under the ticker symbol “HRS”, will begin trading today under the ticker symbol “LHX”. L3 Technologies (NYSE:LLL) shares ceased trading upon market close on June 28 and have converted into 1.3 L3Harris shares for each L3 share.
Transforms company – strengthens financial position/makes more competitive within industry
- ~$17B revenue; 50k employees/20K engineers; customers in [130] countries
- Scale/resources to deliver what customers want – affordable innovation that can be delivered fast
Structure and Leadership
L3Harris has organized its operating businesses into four segments to best meet customers’ mission requirements and leverage the combined company’s broad technical capabilities:
- Integrated Mission Systems — led by Sean Stackley, headquartered in Palm Bay, Florida, with approximately $4.9 billion in revenue. Includes intelligence, surveillance and reconnaissance; advanced electro optical and infrared solutions; and maritime power and navigation
- Space and Airborne Systems — led by Ed Zoiss, headquartered in Palm Bay, Florida, with approximately $4.0 billion in revenue. Includes space payloads, sensors and full-mission solutions; classified intelligence and cyber defense; avionics; and electronic warfare
- Communication Systems — led by Dana Mehnert, headquartered in Rochester, New York, with approximately $3.8 billion in revenue. Includes tactical communications; broadband communications; night vision; and public safety
- Aviation Systems — led by Todd Gautier, headquartered in Arlington, Texas, with approximately $3.8 billion in revenue. Includes defense aviation products; security, detection and other commercial aviation products; air traffic management; and commercial and military pilot training
“Our seasoned segment leaders and mission-focused operating structure will enable us to leverage our broad range of capabilities and complementary technologies to deliver advanced solutions and capture opportunities across multiple domains,” said Christopher E. Kubasik – Vice Chairman, President and COO, L3Harris
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 air, land, sea, space and cyber domains. L3Harris has approximately $17 billion in annual revenue and 50,000 employees, with customers in 130 countries. L3Harris.com.
Link to News Release:
For more information contact:
Natalie Ciao
Public Relations
COMMUNICATION SYSTEMS / L3HARRIS TECHNOLOGIES
t +1585 242 4312/ m +1 585 500 2394
L3Harris.com /
97 Humboldt St / Rochester, NY 14610 / USA
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