The Communications Division's president, Harris Morris, says the unit has become "less aligned with the Harris core businesses and long-term strategy," and the timing is right to sell.
Harris: ‘Business As Usual’ Despite Spinoff
The president of the Harris Communications Division said Tuesday that it will be “business as usual,” despite the parent company’s announcement this morning that it will spin off the unit.
“Our valued relationships, both longstanding and new, remain our top priority,” said Harris Morris in a statement to reporters.
“The global team will continue to work diligently to ensure our commitment to our customers and partners remains steadfast, our execution to fulfill commitments is flawless and our progress against strategic objectives remains focused.”
Morris also the timing of the decision to divest is right for the division and for the parent, a $6 billion-a-year concern that has evolved into a major defense contractor. The broadcast unit accounts for less than a tenth of the revenue.
The division has become “less aligned with the Harris core businesses and long-term strategy,” Morris said.
“Operating independently or as part of a broadcast or media-focused enterprise will provide us with strategic investment, increased competitive flexibility, and customer focus to lead the continuing transformation in this competitive marketplace.”
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