Harris Corporation Announces Strategic Microwave Sales Agreement Valued at $90 Million.
REDWOOD SHORES, Calif.--(BUSINESS WIRE)--April 25, 2000
Harris Corporation, a leading international communications equipment company, today announced that it has entered into a strategic agreement for microwave radios with a worldwide provider of telecommunications infrastructure equipment. The three-year agreement, valued at US$90 million, covers Harris' point-to-point microwave products and is retroactive to March 1, 2000. This latest agreement follows the announcement last week that Harris signed a definitive agreement with TRT Lucent Technologies to purchase its point-to-point microwave radio business unit.
Under the agreement announced today, Harris will supply several products from its extensive point-to-point digital microwave radio portfolio including the Microstar, designed for fast and easy deployment of low- and medium- capacity wireless links; the Aurora, an unlicensed spread spectrum radio; the Megastar(TM) high-capacity radio featuring SONET and SDH standard interfaces with 155 Mb/s capacity and advanced 1:N switching; the Constellation(TM), supporting a large variety of network applications and designed to address spectrally efficient, mid-cap network applications; and the Galaxy(TM), Harris' advanced, all-outdoor, high frequency, high performance SDH millimeter wave radio.
"This announcement is the second in a series of recent strategic agreements that signifies Harris' continued emphasis on leading the industry in the delivery of point-to-point microwave radios," said Sam Wyman, president of Harris' Microwave Communications Division. "This customer, like many others, will benefit from the most advanced point-to-point product portfolio available, as well as from our broad range of service offerings, which continue to assist service providers around the world in the rapid deployment of their networks."
As a part of this agreement, Harris received an order last month valued at approximately US $12 million for a project in Mexico.
In a series of agreements signed on April 20, 2000, Harris announced it had entered into a definitive agreement with TRT Lucent Technologies to purchase its point-to-point microwave radio business unit, which also included a five-year preferred supplier agreement to serve the worldwide point-to-point microwave needs of Lucent's wireless divisions. The TRT Lucent strategic agreements are expected to be completed in early June.
Harris' Microwave Communications Division is the largest supplier of microwave systems in North America. The division delivers wireless solutions to service providers of all types, including public network operators; fixed wireless operators; transportation companies; state, local and federal agencies; and power utilities. Its product line, the broadest in the industry, covers frequency bands up to 38 GHz for synchronous and asynchronous applications which comply with international and North American standards.
Harris Corporation (NYSE: HRS) is an international communications equipment company focused on product, system, and service solutions that take its customers to the next level. The company provides a wide range of products and services for commercial and government communications markets such as wireless, broadcast, government, and network support. The company has sale and service facilities in nearly 90 countries. Additional information about Harris Corporation is available at www.harris.com.
This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about the expected date of completion for the transaction and the impact of the transaction on Harris' business and its microwave business are forward-looking and involve risks and uncertainties. Other factors that may impact the company's results and forward-looking statements may be disclosed in the company's filings with the SEC. Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.