{"id":85850,"date":"2010-11-10T01:43:06","date_gmt":"2010-11-09T17:43:06","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/harris-to-acquire-schlumberger-gcs-merge-new-business-with-caprock\/"},"modified":"2010-11-10T01:43:06","modified_gmt":"2010-11-09T17:43:06","slug":"harris-to-acquire-schlumberger-gcs-merge-new-business-with-caprock","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/harris-to-acquire-schlumberger-gcs-merge-new-business-with-caprock\/","title":{"rendered":"Harris to Acquire Schlumberger GCS, Merge New Business with CapRock"},"content":{"rendered":"<p><strong>Harris Corp.<\/strong> has entered into a definitive agreement to acquire oil and gas industry service provider <strong>Schlumberger<\/strong>\u2019s Global Connectivity Services (GCS) business for $347.5 million in cash after tax expenses, Harris announced Nov. 8.<br \/>\n&nbsp;&nbsp;&nbsp; The acquisition builds on Harris\u2019 acquisition of <strong>CapRock Communications<\/strong>  in July, as Schlumberger GCS will be combined with CapRock to form  Harris CapRock Communications. The deal will see Harris inherit  Schlumberger GCS\u2019 worldwide terrestrial infrastructure and VSAT  manufacturing capabilities in the United Kingdom and Singapore, as well  as 400 employees, 12 teleports and a network operations center. The  merged unit will target the energy, government and maritime industries.&nbsp;  <br \/>\n&nbsp;&nbsp;&nbsp; Harris will finance the acquisition using a combination of cash on  hand, commercial paper, borrowings under its committed credit facilities  and long-term debt. The company said the acquisition would extend  significantly its capabilities as a global mission-critical, end-to-end  managed satellite communications services provider for customers  operating in remote and harsh environments. <br \/>\n&nbsp;&nbsp;&nbsp; \u201cCombining Schlumberger GCS with CapRock Communications will create  an organization with unsurpassed global satellite network capabilities,  broad service offerings and a large experienced service team to provide  customers with superior remote and in-the-field support,\u201d Harris  President and CEO Howard Lance said in a statement.&nbsp; <br \/>\n&nbsp;&nbsp;&nbsp;&nbsp; Schlumberger GCS\u2019 2010 total revenue and EBITDA are expected to be  $170 million and $41 million, respectively. The transaction is set to  close during the third quarter of fiscal 2011.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Harris Corp. has entered into a definitive agreement to acquire oil and gas industry service provider Schlumberger\u2019s Global Connectivity Services (GCS) business for $347.5 million in cash after tax expenses, Harris announced Nov. 8. &nbsp;&nbsp;&nbsp; The acquisition builds on Harris\u2019 acquisition of CapRock Communications in July, as Schlumberger GCS will be combined with CapRock to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-85850","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/85850"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=85850"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/85850\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=85850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=85850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=85850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}