Harris to acquire Exelis Inc
Harris will acquire Exelis Inc under a recently signed agreement for around $4.75 billion, the two companies announced on 6 February. The boards of both companies unanimously approved the acquisition.
The acquisition transaction will close in June 2015. Together, the combined company will have a revenue of over $8 billion.
William Brown, CEO and president, Harris, said: 'The combination of the two companies' complementary core franchises create a competitively stronger company with significantly greater scale.'
David Melcher, CEO and president, Exelis, said: 'Combining the companies will significantly benefit customers and provide new opportunities for employees.'
Harris has created a detailed integration plan for combining the two businesses and achieving cost synergies. A dedicated integration team will be set up and will have executive leadership during the integration phase. This team will have senior members from both Harris and Exelis.
More from Defence Notes
-
![Amazon Project Kuiper emphasises user-friendly solutions for multi-domain connectivity (Studio)]()
Amazon Project Kuiper emphasises user-friendly solutions for multi-domain connectivity (Studio)
At DSEI 2025, Shephard's Alix Valenti spoke to Project Kuiper's Rich Pang about the importance of enabling seamless communication between allied forces such as NATO members in challenging operational environments.
-
![Israel defence ministry pushes ambitious spending plans for tanks, drones and KC-46 aircraft]()
Israel defence ministry pushes ambitious spending plans for tanks, drones and KC-46 aircraft
The procurement and acceleration production plans – some of which still await approval – across the air and land domains will aim to strengthen the operational needs of the Israel Defense Forces.
-
![US reforms its defence acquisition system to focus on commercial capabilities]()
US reforms its defence acquisition system to focus on commercial capabilities
This shift is planned to accelerate the procurement and fielding of capabilities. As part of this strategy, the US also intends modernise its regulations in an attempt to change its bureaucratic and risk-averse culture.
