Harris Unit-Stratex Merger Completed

The merger of Harris Corp.’s Harris Microwave Communications Division and Stratex Networks Inc. has been completed

The new company, Harris Stratex Networks Inc., is a provider of wireless transmission network platforms and has customers in more than 150 countries. The two companies had combined revenue of about $650 million last year.

The deal was first announced in September and closed Friday.

Harris Corp. is the majority shareholder of the new company, with about 56 percent ownership. Harris Stratex Networks will be listed on the NASDAQ Global Market, under the symbol “HSTX” beginning Monday.

The company’s headquarters are in Research Triangle Park, N.C., with a branch in San Jose, Calif.

“The new company will be a larger, more competitive, pure-play wireless technology company that is capable of achieving stronger financial performance than as two stand-alone companies,” said Charles D. Kissner, chairman of Stratex Networks. “As a result, Harris Stratex Networks will have the financial capacity to invest in new technologies and adjacent wireless markets to fuel future growth.”

The president and CEO of Harris Stratex Networks is Guy M. Campbell, who served as president of Harris Microwave Communications Division. The COO is Tom Waechter, formerly the CEO of Stratex Networks, and the CFO is Sally Dudash, who was vice president and controller of Harris Microwave Communications Division.

Harris Corp. www.harris.com  

Harris Stratex Networks Inc. www.harrisstratex.com

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