Harris Corp. Chairman and Chief Executive Howard Lance. Credit: Harris Corp. photo
Harris plans to buy CapRock Communications, a satellite communications company based in Houston, for $525 million. The deal is expected to close between July and September 2010.
CapRock sells secure, managed communications services such as broadband Internet access, voice over IP, networking and instant video. Its customers include the Pentagon and energy companies like Chevron, Shell, KBR, ExxonMobil, Transocean, and Haliburton.
With 700 employees spread in Washington, Houston, the United Kingdom, Brazil and Indonesia, CapRock had $359 million in revenue in 2009 on 4 international teleports, 4 network operations centers, 11 field dispatch and customer service centers and service on more than 50 satellites.
"Acquiring CapRock expands our international presence and customer base, while increasing the breadth of our assured communications offerings," said Howard Lance, the Chairman, CEO and President of Harris. "We see increasing demand for outsourced managed communications services that include secure high-availability networks, creating growth opportunities across a variety of markets."