Thursday, May 20, 2010

Harris to Acquire CapRock Communications for $525 Million

Harris Corporation agreed to acquire CapRock Communications, a global provider of mission-critical managed satellite communications solutions for the energy, government and maritime industries, for $525 million in cash, subject to post-closing adjustments. CapRock's audited financial statements for calendar year 2009 included revenue of $359 million; earnings before interest, taxes, depreciation and amortization (EBITDA) of $54 million; and operating income of $28 million.


CapRock provides managed communication services including broadband Internet access, VoIP, networking and real-time video delivered to harsh and remote locations around the world. CapRock managed network solutions include multiband, portable and fixed satellite communications services supported by its teleports and network operations centers around the globe. CapRock designs, implements and operates these sophisticated, end-to-end managed network solutions under long-term contracts.


"Acquiring CapRock expands our international presence and customer base, while increasing the breadth of our assured communications offerings. We see increasing demand for outsourced managed communications services that include secure high-availability networks, creating growth opportunities across a variety of markets," said Howard L. Lance, chairman, president and CEO of Harris.


CapRock supports a wide range of customers in the energy, maritime and government industries, including Chevron, Diamond Offshore, ExxonMobil, Halliburton, MODEC, Shell, Transocean, KBR, Green Reefers, Gulf Offshore, Seatrans, Oceaneering, Subsea 7, the U.S. Department of Defense, Department of Homeland Security and other federal civilian agencies. The companies has its headquarters in Houston, Texas.
http://www.harris.com
http://www.caprock.com/

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