International. After reviewing the company's business portfolio and identifying that broadcast activities are not fully aligned with the organization's long-term strategy, Harris Corporation 's board of directors decided to sell its broadcast division.
As the company told its shareholders, its core business is increasingly focused on large contracts with governments. Therefore, in announcing the sales objective, Harris Corporation also initiated the process of splitting the broadcast unit's accounting in accordance with North American accounting standards (GAAP).
Nahuel Villegas, vice-president of the division for Latin America, explained that the unit is in excellent condition, continues to occupy a unique place in the broadcast industry, with many customers, innovative products and important contracts in cartera.
He added that the idea is to sell the entire unit, and not in parts. In addition, this division will maintain the operational structure, that is, all its management, the team of approximately 1,700 employees, the offices and factories present throughout the world, including Latin America.
Harris Corporation has so far not identified a buyer or interested companies, so it will continue to work with the broadcast division until a deal closes.
