Harris sells off government IT business

Harris Corp. is selling its government IT services division to a private equity firm.

The buyer is Veritas Capital, for a sale price of $690 million in cash, according to a Harris news release. The sale is expected to close before the end of fiscal 2017.

Harris' IT division "provides IT and engineering managed services to U.S. government agencies, including supporting NASA's Space Communications Network and Deep Space Network programs, and operates within the company's Critical Networks segment," the company said. "Harris expected approximately $1.07 billion in fiscal 2017 revenue attributable to the business. Harris' air traffic management franchise, primarily serving the FAA, is not part of the divestiture and will remain with Harris."

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