Harris to sell broadcast communications unit for $225 mln

Thu Dec 6, 2012 8:53am EST

Dec 6 (Reuters) - Harris Corp, a maker of tactical radios used by the military, said it will sell its broadcast communications unit to an affiliate of the Gores Group LLC for $225 million.

The offer price includes $160 million in cash, a $15 million subordinated promissory note and a $50 million payout based on future performance, Harris said in a statement.

The transaction is expected to be completed in early 2013, the company said.

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