Harris Corporation to Sell BCD to The Gores Group

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Harris Corporation to Sell BCD to The Gores Group

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Η Harris κατέληξε σε συμφωνία με τον όμιλο The Gores Group για την πώληση του τμήματος Broadcast Communications για $225 εκατομμύρια. Η συναλλαγή υπόκειται στις συνήθεις εγκρίσεις απο τις επιβλέπουσες αρχές και αναμένεται να ολοκληρωθεί στις αρχές του 2013. Η διαδικασία είχε ξεκινήσει τον Μαιο του 2012 και έλαβαν μέρος στην διαδικασία πολλές εταιρίες.
“Με την αγορά της Harris Broadcast Communications, επενδύουμε σε αποδεδειγμένους ηγέτες τεχνολογίας με εξαιρετική ομάδα στελεχών και γκάμα προϊόντων νέας τεχνολογίας”, “είμαστε ενθουσιασμένοι να προσφέρουμε κεφάλαιο και υποστήριξη για την μετουσίωση του τμήματος αυτού σε μια ανεξάρτητη και ισχυρή εταιρία, επιτρέποντας της επιπλέον να συνεχίσει να εξελίσσει και να προσφέρει προηγμένες τεχνολογικά λύσεις στους πελάτες της” είπε ο Ryan Wald, γενικός διευθυντής του The Gores Group
Από την πλευρά του ο William Brown, πρόεδρος και διευθύνων σύμβουλος της Harris Corp. είπε “Η πώληση του τμήματος αντικατοπτρίζει την στρατηγική μας να επενδύσουμε στο κυριο αντικείμενό μας που είναι οι τεχνολογίες επικοινωνιών και άμυνας”,  “όπως είχαμε στόχο η πώληση ξεπέρασε τα $200 εκατομμύρια τα οποία θα χρησιμοποιηθούν για να ισχυροποιήσουμε την θέση μας στην αγορά». Συγκεκριμένα, δήλωσε πως ο στόχος ήταν η κάλυψη 200 εκατομμυρίων για την επαναγορά μετοχών για να ισχυροποιήσουν την θέση τους στην αγορά και ότι παραπάνω για να αποδώσουν μετρητά στους μετόχους. Σημαντικό ρόλο έπαιξε και η εμπειρία της The Gores Group στην εκμετάλλευση των δυνατοτήτων εταιριών που αναλαμβάνει, το οποίο έχει αποδείξει πολλές φορές στο παρελθόν.
Ο Δαυίδ Χαλκίδης Assured Partner της Harris για την Ελλάδα είπε “Γνωρίζουμε την The Gores Group από την συνεργασία μας με άλλες εταιρίες του ομίλου και είμαστε ενθουσιασμένοι. Η The Gores Group εξαγοράζει εταιρίες που πιστεύει ότι έχουν τις καλύτερες προοπτικές σε σχέση με τον ανταγωνισμό τους και τις βοηθά να τις εκμεταλλευτούν.”
Σχετικά με την The Gores Group. The Gores Group, LLC είναι μια παγκόσμια εταιρία επενδύσεων εξειδικευμένη στην εξαγορά μεριδίων ελέγχου σε ώριμες εταιρίες με καλές προοπτικές που μπορούν να επωφεληθούν απο την εμπειρία της και το ευέλικτο κεφάλαιο βάσης. Η The Gores Group, που ιδρύθηκε το 1987 από τον Alec E. Gores, έχει γίνει πρωτοπόρος επενδυτής που έχει επανηλειμένως επιδείξει αξιόπιστα αποτελέσματα αυξησης της αξίας των εταιριών της σε σύμπραξη με την διοίκηση τους. Με εταιρίες στους τομείς της ηλεκτρονικής, των τηλεπικοινωνιών, της ιατρικής τεχνολογίας, της ψυχαγωγίας ανάμεσα στα άλλα, δημιουργεί ένα δίκτυο με αυξημένες συνέργειες,
Σχετικά με την AMY AE. Η ΑMY AE δραστηριοποιείται στον χώρο της τεχνολογίας από το 1981. Το 1989 ξεκίνησε το εξειδικευμένο τμήμα Amy Digital Video, το οποίο ασχολείτο με την επαγγελματική ψηφιακή εικόνα και τον ήχο σε ολόκληρο το εύρος της αγοράς Τηλεόρασης, Τηλεπικοινωνιών, παραγωγής και νέων μέσων.

MELBOURNE, Florida, December 6, 2012 — Harris Corporation (NYSE:HRS) has reached an agreement to sell Broadcast Communications to an affiliate of The Gores Group, LLC for $225 million. The price includes $160 million in cash at closing, a $15 million subordinated promissory note and an earnout of up to $50 million based on future performance. The transaction is subject to customary regulatory review and closing conditions and is expected to be completed in early calendar year 2013. On May 1, 2012, Harris announced plans to divest Broadcast Communications.

“The sale of Broadcast Communications reflects our strategy to optimize our business portfolio and focus on our core businesses,” said William M. Brown, president and chief executive officer of Harris. “As previously communicated, we plan to repurchase up to $200 million of our shares after the deal closes. This is in addition to the $200 million of share repurchases already planned for fiscal 2013 and reflects our ongoing commitment to effectively deploy capital, including returning cash to shareholders.”

“In Harris Broadcast Communications, we are investing in a proven technology leader with great products and a great team. We are excited to provide the capital and support to transition this division to a strong and independent company further enabling it to continue developing and delivering market leading technologies to its customers,” said Ryan Wald, Managing Director of The Gores Group.

About The Gores Group The Gores Group, LLC is a global investment firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm’s operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group, which was founded in 1987 by Alec E. Gores, has become a leading investor having demonstrated over time a reliable track record of creating substantial value in its portfolio companies alongside management. Headquartered in Los Angeles, The Gores Group maintains offices in Boulder, CO, and London. For more information, please visit www.gores.com.

About Harris Corporation Harris is an international communications and information technology company serving government and commercial markets in more than 125 countries. Headquartered in Melbourne, Florida, the company has approximately $5.5 billion of annual revenue and about 15,000 employees — including 6,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications® products, systems, and services. Additional information about Harris Corporation is available at harris.com.

 

2 Responses

  1. david says:

    December 7, 2012
    I am very pleased to share with you the news that The Gores Group, a global investment firm focused on acquiring controlling interests in mature and growing businesses, has made a binding offer to acquire the Harris Broadcast Communications Division from Harris Corporation. The Gores Group has successfully acquired and operated more than 80 companies around the world, and we are excited to help continue that tradition.
    An exciting new chapter
    Today’s announcement marks a new chapter for both our company and our customers. I am very excited about this acquisition and the future of Harris Broadcast under new ownership.
    The Gores Group brings enormous value to Harris Broadcast— experience in diverse technology and media sectors, operational and financial expertise, a global investment approach, a flexible capital base, and a reputation for adding value to the businesses it acquires. Being owned by The Gores Group as a privately-held company will enable Harris Broadcast to capitalize on our market-leading position, continue to pursue growth opportunities, and aggressively respond to continually evolving market trends and customer needs.
    A steady course
    As I announced in an earlier communication, Harris Broadcast has retained use of the Harris brand for an extended period following the close. The Harris brand is highly regarded across the broadcast market — and we are determined to maintain that. Regardless of ownership, our customers can feel confident doing business with a company they know and trust.
    The Gores Group is acquiring all Harris Broadcast business areas and product lines and is excited by the end-to-end offering that Harris has in its portfolio. They are committed to developing leading edge technologies across the broadcast value chain.
    We view our reputation for world-class support as our most highly valued asset, and our commitment to providing our customers with exceptional service at every stage of the sales cycle remains firm under new ownership.
    Finally, we remain steadfast in our strategy to pursue attractive opportunities regardless of geographic location, which enables us to effectively address the needs of our growing global customer base.
    In closing
    I want to extend my sincere appreciation for the loyalty you have shown our company as this process has unfolded, and reiterate that our valued relationships remain our top priority.
    As we lead the business under new ownership, my global Harris Broadcast team and I will ensure our dedication to our customers and partners remains steadfast, and that we are completely focused on meeting your most important needs.
    From a timing perspective, it is intended that this transaction will close in the first quarter of 2013. I invite you to contact any of the global team, including me, should you have any questions regarding this announcement. View the press release >>
    Thanks again for all your support.
    Sincerely,
    Harris Morris

  2. david says:

    Harris Corporation Completes Sale of Broadcast Communications Business to The Gores Group
    February 4, 2013
    Harris Corporation (NYSE:HRS) has completed the previously announced sale of its Broadcast Communications business to an affiliate of The Gores Group, LLC for $225 million. The price includes $160 million in cash, a $15 million subordinated promissory note and an earnout of up to $50 million based on future performance. The purchase price is subject to customary adjustments.
    “This is an exciting new chapter for Harris Broadcast, our employees and our customers,” said Harris Morris, CEO of Harris Broadcast. “The Gores Group is an ideal fit to help us move the business forward and help drive innovation, streamline operations and improve customer service. They will also provide us additional resources such as a flexible capital base and introduce new talent to the Company.”
    Ryan Wald, Managing Director of The Gores Group added, “We anticipate great things from Harris Broadcast. The Company has proven technology, great products and an outstanding team. With our equity capital and guidance we are confident that Harris Broadcast will transition to a strong independent company that will continue to develop and deliver market leading technology and service to its customers.”

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