{"id":86919,"date":"2010-05-25T01:22:44","date_gmt":"2010-05-24T17:22:44","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/harris-corp-acquires-caprock-for-525-million\/"},"modified":"2010-05-25T01:22:44","modified_gmt":"2010-05-24T17:22:44","slug":"harris-corp-acquires-caprock-for-525-million","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/harris-corp-acquires-caprock-for-525-million\/","title":{"rendered":"Harris Corp. Acquires CapRock for $525 Million"},"content":{"rendered":"<p>[05-24-10] <strong>Harris Corp<\/strong>. has entered into a definitive agreement to acquire <strong>CapRock Communications<\/strong> for $525 million in cash, the companies announced May 21.<br \/>\n&nbsp;&nbsp;&nbsp; Harris will finance the acquisition using a combination of cash on hand, commercial paper, and borrowings under its committed credit facilities. The transaction is expected to close during the first quarter of 2011 pending customary regulatory reviews, <strong>U.S Federal Communications Commission<\/strong> license approvals, and closing conditions.&nbsp; <br \/>\n&nbsp;&nbsp;&nbsp; As a result of the combination, Harris will acquire CapRock\u2019s end-to-end managed communication service customers in the government and enterprise sector, including <strong>Chevron, Diamond Offshore, ExxonMobil, Halliburton, MODEC, Shell, Transocean, KBR, Green Reefers, Gulf Offshore, Seatrans, Oceaneering, Subsea 7, the U.S. Department of Defense, Department of Homeland Security<\/strong> and other federal civilian agencies.&nbsp; <br \/>\n&nbsp;&nbsp;&nbsp; Harris CEO Howard Lance said his company\u2019s acquisition strategy is based on entering the energy sector after noticing increased demand for outsourced communication. \u201cThe acquisition provides an entry into the energy market, while expanding our present offering for the government and maritime markets to include managed satellite communications solutions.&nbsp; CapRock is a facilities-based global service provider that has made significant strategic investments in a self-owned and operated infrastructure to support demanding customer requirements,\u201d Lance said in a statement.<br \/>\n&nbsp;&nbsp;&nbsp; CapRock\u2019s 2009 full-year revenues were $359 million, with EBITDA of $54 million and operating income of $28 million. The company\u2019 assets include four international teleports, four 24-hour network operations centers, eleven field dispatch and customer service centers, 700 employees and service on more than 50 satellites. In March, CapRock CEO Peter Shaper was named Via Satellite magazine\u2019s 2009 Satellite Executive of the Year.<\/p>\n<h2>Related Stories-<\/h2>\n<p>\n<b class=\"titlelink\">CapRock Wins $50 Million GSA 70 Contract to Support  FBI Communications<\/b>&nbsp;&nbsp; \t\t\tSatellite Today&nbsp;&nbsp; \t\t\tMay 19, 2010<br \/>\n[05-19-10] CapRock Government  Solutions has been contracted by the U.S. Federal Bureau of  Investigation (FBI) to provide a complete solution of technical design,  network implementation, field services and program support for its\u2026<\/p>\n<p><b class=\"titlelink\">CapRock Wins Five-Year Maritime C-band Deal in Greece<\/b>&nbsp;&nbsp;  \t\t\tSatellite Today&nbsp;&nbsp; \t\t\tMay 5, 2010<br \/>\n[05-05-10] CapRock  Communications has secured a five-year fleet contract with Diamlemos  Shipping Corp. for nine C-band installations, CapRock announced May 4. CapRock will install its SeaAccess service onboard nine Diamlemos  \u2026<\/p>\n<p><b class=\"titlelink\">Pace of Operations increases demand on Satcom on the  move<\/b>&nbsp;&nbsp; \t\t\tVia Satellite&nbsp;&nbsp; \t\t\tApril 1, 2010<br \/>\nTo operate in today s theaters   with 38,000  NATO and 47,000 U.S. troops in mountainous Afghanistan and 115,000 U.S.  troops in the deserts of Iraq   the military needs even lighter and more  capable ground systems that provide beyond-line-of-sight\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[05-24-10] Harris Corp. has entered into a definitive agreement to acquire CapRock Communications for $525 million in cash, the companies announced May 21. &nbsp;&nbsp;&nbsp; Harris will finance the acquisition using a combination of cash on hand, commercial paper, and borrowings under its committed credit facilities. The transaction is expected to close during the first quarter [&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-86919","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/86919"}],"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=86919"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/86919\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=86919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=86919"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=86919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}