Har­ris Cor­po­ra­tion to ac­quire Ex­elis

SP's MAI - - CORPORATE -

Har­ris and Ex­elis, Inc. an­nounced a de­fin­i­tive agree­ment un­der which Har­ris will ac­quire Ex­elis in a cash and stock trans­ac­tion val­ued at $23.75 per share, or an ap­prox­i­mately $4.75 bil­lion en­ter­prise value. “Ac­quir­ing Ex­elis is trans­for­ma­tional for Har­ris,” said Wil­liam M. Brown, Chair­man, Pres­i­dent and Chief Ex­ec­u­tive Of­fi­cer of Har­ris. “The com­bi­na­tion of the two com­pa­nies’ highly com­ple­men­tary core fran­chises cre­ates a com­pet­i­tively stronger com­pany with sig­nif­i­cantly greater scale. 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.”

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