L3 Harris Technologies is selling its commercial aviation business to private equity firm TJC for $800 million as it retools the company to better focus on national security and technology.
Under the terms of the deal, TJC will pay $700 million up front and another $100 million “based on the achievement of certain 2023 and 2024 financial performance targets,” the company said. The deal, which still must go through the regulatory approval process, is expected to close in the first half of 2024.
L3Harris’ Commercial Aviation Solutions provides pilot training, flight data analytics, avionics and other products and services. It employs about 1,450 people.
L3Harris concluded its high-profile acquisition of Aerojet Rocketdyne this summer.
Aboard a U.S. Air Force KC-46 on the tarmac of the Dubai Air Show, Boeing said it’s “pretty comfortable” with its plan to fix a myriad of problems still hurting the tanker.
Boeing has delivered 78 KC-46 aircraft to date: 76 for the USAF and two for the Japan Air Self-Defense Force.
The 10th annual Reagan National Defense Forum is Saturday at the Ronald Reagan Presidential Library in Simi Valley, California. This year’s lineup, as expected, includes many top national security leaders, including Joint Chiefs Chairman Gen. CQ Brown. By my latest count, panelists include six general/flag officers, five senators, seven members of Congress, and eight senior industry executives. Commerce Secretary Gina Raimondo is also among the headliners.
