The "Harris Automatic Press Company" was founded by Alfred S. Harris in Niles, Ohio, in 1895. The company spent the next 60 years developing lithographic processes and printing presses before acquiring typesetting company Intertype Corporation. In 1967, they merged with Radiation, Inc. of Melbourne, Florida, a developer of antenna, integrated circuit, and modem technology used in the space race. The company headquarters was moved from Cleveland to Melbourne in 1978.[10][11] In May 2015, Harris finalized the purchase of competitor Exelis Inc., almost doubling the size of the original company.[12]
L-3 Communications was formed in 1997 to acquire certain business units from Lockheed Martin that had previously been part of Loral Corporation. These units had belonged to Lockheed Corporation and Martin Marietta, which had merged three years before in 1993.[13] The company was founded by, and named for, Frank Lanza and Robert LaPenta in partnership with Lehman Brothers. Lanza and LaPenta had both served as executives at Loral and Lockheed.[14] The company continued to expand through mergers and acquisitions to become one of the top ten U.S. government contractors.[15] At the end of 2016, the company changed its name from L-3 Communications Holdings, Inc. to L3 Technologies, Inc. to better reflect the company's wider focus since its founding in 1997.[16]
In October 2018, Harris and L3 announced an all-stock "merger of equals". As part of that deal, Harris was required to sell its night vision division. The reasoning was that a merger of Harris and L3's night vision departments would create an effective monopoly on the night vision industry.[17] The merger was completed in June 2019. The new company, L3Harris Technologies, Inc., is based in Melbourne, Florida, where Harris was headquartered.[6] The new company was led by former Harris CEO William M. Brown as the Chairman and CEO, with former L3 CEO as the President and COO.[6] In June 2021, Brown turned over the role of CEO to Chris Kubasik, retaining the title of Executive Chair, and Kubasik adding the title of Vice Chair.[18]
In 2018, L3Harris acquired two Australian cybertechnology companies, Azimuth Security and Linchpin Labs. The two companies are reportedly suppliers of zero-day exploits for the Five Eyes[19][20] and the Federal Bureau of Investigation.[20]
In 2019, L3Harris paid $13 million to settle allegations that Harris, before the merger, violated Arms Export Control Act and International Traffic in Arms Regulations regulations.[21] According to a proposed charging letter [22] Harris Corporation violated AECA (22U.S.C.2751 et seq.) and ITAR (22 CFR parts 120–131) for a total of 131 separate violations.
In January 2022, L3Harris reorganized its business structure, eliminating the Aviation Systems business segment and distributing its divisions between the remaining three Integrated Mission Systems, Space & Airborne Systems, and Communications Systems segments.[23]
In June 2022, Chris Kubasik succeeded as the Chair following Bill Brown's retirement.[24]
In June 2022, it was reported to have held talks to purchase the Israeli company NSO, which builds Pegasus spyware.[25] White House officials heard of the talks and voiced opposition, resulting in L3Harris discontinuing its plans.[19]
In December 2022, L3Harris agreed to buy Aerojet Rocketdyne Holdings for $4.7 billion in cash.[26] The acquisition was completed on 28 July 2023.[27]
Business organization
As of 2023[update], L3Harris is organized under four business segments: Integrated Mission Systems, Space & Airborne Systems, Communication Systems, and Aerojet Rocketdyne.[23][28] It is led by a 13-member board of directors, including chair and CEO Chris Kubasik.[6][24]
Integrated Mission Systems
Headquartered in Palm Bay, Florida, Integrated Missions Systems specializes in intelligence, surveillance, and reconnaissance (ISR) and signals intelligence systems; electrical and electronic systems for maritime use; electro-optical systems including infrared, laser imaging, and targeting systems; defense aviation systems including weapons systems and UAVs; and commercial aviation services including the L3Harris Airline Academy.[1] It comprises divisions, including some of those formerly in the Aviation Systems segment and Wescam, that had a combined revenue of $7.0 billion in 2021.[1]
In November 2023, L3Harris announced that it would sell its Commercial Aviation Solutions business to The Jordan Company for up to $800 million.[29]
Headquartered in Rochester, New York, Communications Systems specializes in tactical communications, broadband communications, night vision (inherited from L3 Technologies, unrelated to night vision developed by Harris, ITT, or Exelis), and public safety.[1] It comprises divisions that had a combined revenue of $4.3 billion in 2021.[1]
Headquartered in Palm Bay, Florida, Aerojet Rocketdyne consists of two sectors: "Missile Solutions" and "Space Propulsion and Power Systems".[28] Aerojet Rocketdyne had $2.2 billion in revenue in
2022,[30] prior to its 2023 purchase by L3Harris.[27]
GPNVG-18, a night vision device that utilises four night vision tubes to give the user a wider field of view
AN/PVS-31A BNVD and 1531 BNVD. Binocular articulating night vision devices. Standard issue goggle for US SOCOM.
Azimuth, technology enabling access to data from locked mobile phones. L3Harris acquired Azimuth in 2018 through an acquisition of an Australian company, Azimuth Security.[19]
^ abFORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Report). U.S. Securities and Exchange Commission. June 30, 2022. p. 1. Archived from the original on July 1, 2022. Retrieved June 30, 2022. Consistent with the Merger Agreement and Mr. Brown's and Mr. Kubasik's respective employment arrangements, on June 29, 2022, (a) Mr. Brown ceased being Chair of L3Harris and retired from L3Harris; (b) and Mr. Kubasik, age 61, succeeded him as Chair of L3Harris, becoming Chair and Chief Executive Officer of L3Harris, and ceased being Vice Chair of L3Harris.
US$19.4 billion (2023)