L3Harris Technologies will divest its visual information solutions business through a definitive agreement with NV5 Global to support the former’s broader strategy of portfolio optimization.
The divestiture is estimated to reach up to $100 million and aims to provide balance sheet flexibility as L3Harris moves to purchase ViaSat’s Tactical Data Link product line and Aerojet Rocketdyne, the aerospace and defense company said Thursday.
L3Harris Visual Information Solutions offers geospatial software, technology and services to customers looking to analyze and gain actionable information from geospatial to terrestrial imagery.
The deal is scheduled to wrap up by mid-2023.
Aside from continued portfolio optimization, L3Harris looks to focus on investments in national security and multi-domain offerings through divestiture.
In December, L3Harris agreed to a $4.7 billion all-cash transaction for the purchase of Aerojet Rocketdyne.
“With this acquisition, we will use the combined talents of more than 50,000 employees to drive continuous process improvement, enhance business operations and elevate the performance of this crucial national asset,” commented Christopher Kubasik, chair and CEO of L3Harris and a three-time Wash100 awardee.
In October, the company also signed a definitive agreement to acquire Link 16, the tactical data link product line of ViaSat, for approximately $1.96 billion.
Learn more here https://blog.executivebiz.com/2022/12/l3harris-to-divest-visual-information-solutions-business/ by Christine Thropp