Harris Corporation (NYSE:HRS) has completed the previously announced sale of the firm's CapRock Communications commercial business to SpeedCast International Limited (ASX: SDA) for $425 million in cash.
Proceeds from this transaction will be used by Harris to pay down debt and return cash to shareholders.
CapRock, which was part of the company’s Critical Networks segment, is a global provider of managed satellite, terrestrial and wireless communications solutions for the cruise and energy markets.