Harris Corporation's digital signage interests have been revived as a global investment firm agrees to buy the company's Broadcast Communications division.
Harris approved a plan to divest its Broadcast Communications division in
May 2012, stating that the unit was no longer aligned with its
long-term strategy.
On December 6, 2012 Harris confirmed that Broadcast Communications would
be sold to an affiliate of The Gores Group, LLC for $225
million.
Ryan Wald, managing director of The Gores Group, said: "In Harris
Broadcast Communications, we are investing in a proven technology leader with great
products and a great team.
"We are excited to provide the capital
and support to transition this division to a strong and independent company
further enabling it to continue developing and delivering market leading technologies to its customers."