{"id":29902,"date":"2015-02-06T14:25:27","date_gmt":"2015-02-06T14:25:27","guid":{"rendered":"https:\/\/one.sightlinemg.com\/defensenews\/uncategorized\/2015\/02\/06\/exelis-harris-announce-4-75-billion-merger\/"},"modified":"2026-08-07T22:28:32","modified_gmt":"2026-08-07T22:28:32","slug":"exelis-harris-announce-4-75-billion-merger","status":"publish","type":"post","link":"https:\/\/one.sightlinemg.com\/defensenews\/industry\/2015\/02\/06\/exelis-harris-announce-4-75-billion-merger\/","title":{"rendered":"Exelis, Harris Announce $4.75 Billion Merger"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">WASHINGTON \u2014 Exelis has agreed to be acquired by Harris Corp. in a merger valued at $4.75 billion, a deal that would combine two mid-tier defense firms.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The boards of the two companies approved the deal, expected to close in June, according to a news release Friday morning.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Under the terms of the deal, Harris will acquire Exelis in a cash and stock transaction valued at $23.75 per share. Harris shareholders will own 85 percent of the combined company, and Exelis shareholders will own 15 percent. Exelis shareholders will receive roughly $17 in cash and 10 percent of a share of Harris common stock for each share of Exelis common stock.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The firm will be an $8 billion tech company with 23,000 employees, including 9,000 engineers\/scientists.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">William Brown, chairman, president and chief executive officer of Harris, said the new entity would be &#8220;competitively stronger &#8230; with significantly greater scale.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;We are expanding in a market where we have decades of success and a workforce dedicated to providing our customers with innovative and cost-effective solutions for some of their most complex challenges,&#8221; Brown said.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"800\" src=\"\/wp-content\/uploads\/2026\/08\/635588152745297690-exelisjpg.jpg\" alt=\"\" class=\"wp-image-66239\" srcset=\"https:\/\/one.sightlinemg.com\/wp-content\/uploads\/2026\/08\/635588152745297690-exelisjpg.jpg 1200w, https:\/\/one.sightlinemg.com\/wp-content\/uploads\/2026\/08\/635588152745297690-exelisjpg.jpg?resize=300,200 300w, https:\/\/one.sightlinemg.com\/wp-content\/uploads\/2026\/08\/635588152745297690-exelisjpg.jpg?resize=768,512 768w, https:\/\/one.sightlinemg.com\/wp-content\/uploads\/2026\/08\/635588152745297690-exelisjpg.jpg?resize=1024,683 1024w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><span>Exelis Inc.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span>Photo Credit: Exelis Inc.<\/span><\/p>\n\n\n\n<p>Exelis, itself a 2011 spinoff from ITT, in 2013 spun off its military and government services business focused on facilities management, logistics and network communications. T<span style=\"color: #2c2c2c;\">he new, leaner Exelis focused on surveillance and intelligence solutions, and was billed as representing $3.4 billion in revenue.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The companies last year were two of four firms to land a $988 million Army contract to provide radio appliqu\u00e9s capable of running the Army&#8217;s Soldier Radio Waveform.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The merger comes years into a new paradigm for Army procurement, with the advent of the service&#8217;s network integration exercises, aimed at testing ready technologies to modernize its tactical communications network in an affordable way.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In that spirit, the Army released the final version of its request for proposals for the Rifleman Radio last month, aimed at creating a &#8220;radio marketplace&#8221; for multiple vendors to compete to fill delivery orders as needed.<\/p>\n\n\n\n<p 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valued at $4.75 billion, a deal that would combine two mid-tier defense firms.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/one.sightlinemg.com\/defensenews\/industry\/2015\/02\/06\/exelis-harris-announce-4-75-billion-merger\/\" \/>\n<meta property=\"og:site_name\" content=\"Defense News\" \/>\n<meta property=\"article:published_time\" content=\"2015-02-06T14:25:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-08-07T22:28:32+00:00\" \/>\n<meta name=\"author\" content=\"Joe Gould\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Joe Gould\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            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