$100 Million Sale Consistent With Portfolio Optimisation Strategy
L3Harris Technologies announced an agreement to divest its Visual Information solutions business to NV5 Global, for an anticipated consideration of up to $100 million. The transaction is expected to close by mid-2023, subject to required regulatory approvals and other customary closing conditions.
The divestiture is consistent with the company’s broader strategies of continuing portfolio optimisation, and aligning long-term innovation investment for national security priorities and whole-of-government, multi-domain solutions.
In October, L3Harris agreed to acquire Viasat’s tactical data link product line, to modernise the Link 16 network to provide more resilient, multi-domain communications for US DoD (see report earlier this week). Earlier this month it also agreed to acquire Aerojet Rocketdyne, a key supplier of propulsion systems and energetics.
L3Harris Visual Information Solutions is a global provider of commercial geospatial software, technology and services used to extract and analyse reliable, accurate and actionable information from geospatial to terrestrial imagery.
