Harris Sells Broadcast Division to Industry Outsider

6 Dec

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Harris has finally pulled the plug on all it’s years as one of the broadcast industry stalwarts for decades by selling its Broadcast Division to the Gores Group, a broadcast industry outsider and LA-based “private equity firm specializing in acquiring and partnering with businesses that can benefit from our operational expertise and flexible capital base”. Gore does have  Telecom technology firm Powerwave, a manufacturer of wireless telecom products in their portfolio

The price of $225 million includes $160 million in cash at closing, a $15 million subordinated promissory note and an earnout of up to $50 million based on future performance. The transaction is subject to customary regulatory review and closing conditions and is expected to be completed in early calendar year 2013. On May 1, 2012, Harris announced plans to divest Broadcast Communications.

The Harris brand, known back in the early 1980’s as the market leader in broadcast antennas, and then over the years broadened its product base with mergers and acquisitions with niche brand leaders like Leitch,  went onto become one of the major players in the broadcast equipment market space.   The company seemed to lag behind in the past decade in terms of keeping pace with the rapidly evolving technology and end-user vertical markets and in May 2012, current management announced that the company was putting the Broadcast Communications Division up for sale.

Harris BCD currently has a wide range of products in the broadcast & pro video space, including the following: Advertising Software; Automation; Business Analytics; Digital Asset Management; Digital Out-Of-Home; Distribution Amplifiers; Editing; Fiber Optic Solutions; Graphics; Integrated Channel Playout; Master Control and Branding; Multiviewers; Network Monitoring and Control; Networking and Encoding; Programming and Rights Software; Radio STL, Contribution and Distribution; Radio Studio Systems; Radio Transmission; Routing Systems; Sales, Traffic and Billing Software;Selenio Media Convergence Platform; Servers; Signal Processing; Television Transmission; Test and Measurement; Voice/Data Networking for Public Safety

Trackbacks and Pingbacks

  1. Harris Gone – Gates back | Broadcast Beat Magazine: 2014 NAB Show News - Broadcast Engineering News and TV / Radio Technology Resource for the Broadcast Engineering, Motion Picture and Post Production communities. - March 18, 2014

    […] 2012 Harris pulled the plug on it’s Broadcast Division which was sold to the Gores Group (Harris Sells Broadcast Division to Industry Outsider). Speculation then was that the Harris name would disappear. Now that had come about. SCRI has done […]

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