Harris Corporation completes acquisition of CapRock Communications
August 01, 2010
Source: MM Network
By: Media Mughals
Harris Corporation, an international communications and information technology company, has announced completion of acquisition of CapRock Communications.
CapRock Communications is a privately firm where private equity firm ABRY Partners was the majority owner. With nearly three decades of experience, CapRock Communications is a premier global satellite communications provider. It provides services for the energy, government, maritime, engineering and construction and mining industries as well as for disaster recovery services.
The company makes use of the latest field-proven satellite technologies to deliver highly-reliable managed communications services, including broadband Internet, voice over IP, secure networking and real-time video, to the world's harshest and most remote locations.
CapRock leverages best-of-breed partnerships, technical expertise and a robust global infrastructure that includes four self-owned and operated teleports and eleven regional support centers across North America, Central and South America, Europe, West Africa and Asia Pacific.
Harris Corporation made the purchase for $525 million in cash, subject to post-closing adjustments. The acquisition marks Harris’ into energy market and expands global managed communications services.
Post the purchase CapRock Communications CEO Peter Shaper will serve as president of the business, which will operate as a wholly owned subsidiary of Harris Corporation. |