Harris Stratex to Be Spun Off as a Standalone Company

Backhaul specialist Harris Stratex Networks Inc. will become its own standalone company.

Its parent company, Harris Corp., will sell its majority stake in Harris Stratex to shareholders in a taxable pro rata stock dividend payable on May 27.

"We look forward to the next chapter of Harris Stratex Networks as a fully independent company," said Harald Braun, Harris Stratex president and CEO, in a statement. "There is no question that the future of broadband wireless communications presents us with significant growth opportunities. Coupled with the significant progress we have made across our business, we believe that our ability to strengthen our position in this market space and execute on our strategy is now enhanced as an independent company.”

Harris Corp. announced in December that it was evaluating strategic alternatives for Harris Stratex.

"We continue to execute our growth strategy by making the game-changing transition to IP networks. In addition, we recently acquired Telsima Corporation to accelerate our expansion into new and emerging markets and to enhance our 4G networking strategy," added Braun.

Share this article: Email, Slashdot, Digg, Del.icio.us, Yahoo!MyWeb, Windows Live Favorites, Furl
Add this article feed to: RSS, My Yahoo, Newsgator, Bloglines