Harris Corp. Announces Purchase Of VA-Based Company
A major Central Florida-based defense and aerospace communications company has announced plans for the largest expansion in its history. Harris Corporation, which employs about 6,000 people at its Brevard County headquarters, is acquiring Exelis Inc., a smaller but similar company based in Virginia.
There’s no word yet on how many jobs may be created and where, but 90.7’s economic analyst Hank Fishkind says this acquisition could bring an economic boost to the Space Coast.
“The combined company will be stronger, which is great for Central Florida, and typically when a big company buys a smaller company, they combine those activities and the bigger company’s employment base tends to grow,” says Fishkind. “Although we don’t have the details yet, that’s likely to be what will happen here. And that’ll bring more jobs and income into our area.”
Harris Corporation officials say they’ve committed to buying Exelis for $4.75 billion in cash and stocks, pending a final vote from Exelis shareholders.
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