Harris Corporation and L3 Technologies have agreed to combine in an all stock merger of equals to create a global defense technology leader, focused on developing differentiated and mission critical solutions for customers around the world.
The combined company, L3 Harris Technologies, Inc., will be the 6th largest defense company in the U.S. and a top ten defense company globally, with approximately 48,000 employees and customers in over 100 countries. For calendar year 2018, the combined company is expected to generate net revenue of approximately $16 billion.
L3 Harris Technologies will be headquartered in Florida. The merger is expected to close in mid-calendar year 2019, subject to satisfaction of customary closing conditions, including receipt of regulatory approvals and approval by the shareholders of each company.