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HARRIS SPINS OFF ELECTRONIC DESIGN AUTOMATION BUSINESS IN MANAGEMENT BUY OUT

 FISHERS, N.Y. and MELBOURNE, Fla., Oct. 4 /PRNewswire/ -- Harris Corporation (NYSE: HRS) today announced that it has sold its Electronic Design Automation business, headquartered in Fishers, N.Y., to a group led by the division's management. Terms of the transaction were not disclosed.
 Harris retains a 20 percent interest in the business, which will operate as an independent company under the name Harris Electronic Design Automation, Inc. The remaining stock in the new company will be held by Harris EDA management, employees, and outside investors.
 Harris EDA is a leading developer of software and integrated systems for the computer-aided design (CAD) and layout of printed circuit boards, multichip modules, and ceramic hybrids. It is best known for its SCICARDS and FINESSE MCM software products that run on UNIX-based workstations.
 Harris EDA products are used by major electronics firms worldwide to reduce development costs and speed time-to-market of electronic products and systems. The company markets and supports its products through nine field offices in the United States; subsidiaries in the United Kingdom, France, Germany, and Italy; and a network of distributors throughout the rest of Europe and in the Far East.
 John T. Hartley, Harris Corporation's chairman and chief executive, said, "Electronic design automation is a fast-moving industry with exciting growth prospects. The markets served are outside the mainstream of Harris Corporation's strategic focus and we believe that Harris EDA's future growth and profit potential will best be achieved through an independent, entrepreneurially driven venture backed by the corporation's financial and technological resources. Our early stage investments in similar ventures have proved very successful, and we expect the new Harris EDA to be another winner."
 Laurence S. Liebson, 48, formerly vice president - general manager of the Harris division, is chairman, president, and chief executive of the new company. Liebson, who joined Harris in October 1992, has founded three high-tech companies in the past including publicly traded Xyvision and Xylogics.
 "Harris Corporation's technological and financial investments in our new venture give us a jump start toward our goal of developing the next generation of electronic physical design automation tools" says Liebson. "IC technology is clearly out pacing chip interconnect technology. We believe newly emerging design analysis and optimization software tools, in conjunction with advanced electronics packaging and IC interconnect solutions, will be enabling technologies for the next generation of higher performance electronic systems and products. We are pleased to have Harris Corporation behind us."
 Harris Corporation, with worldwide sales of more than $3 billion, is focused on four major businesses: electronic systems, communications, semiconductors, and Lanier Worldwide office equipment.
 -0- 10/4/93
 /CONTACT: Jim Burke of Harris Corporation, at 407-727-9126; or Laurie Riedman of Riedman Communications, 716-396-3100, for Harris EDA/
 (HRS)


CO: Harris Corporation; Harris Electronic Design Automation, Inc. ST: Florida, New York IN: CPR SU: TNM

AW -- FL004 -- 8256 10/04/93 10:21 EDT
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Publication:PR Newswire
Date:Oct 4, 1993
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