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SpeedCast Completes CapRock Acquisition

By Juliet Van Wagenen | January 3, 2017
HC Antenna 300 DPI

A Harris CapRock antenna. Photo: Harris CapRock

[Via Satellite 01-03-2017] Harris Corp. has completed the previously announced sale of its CapRock Communications commercial business to SpeedCast for $425 million in cash. CapRock, which was part of the company’s critical networks segment, is a premier global provider of managed satellite, terrestrial and wireless communications solutions for the cruise and energy markets.

According to a statement released by Harris, the company said that it will use proceeds from the transaction to pay down debt and return cash to shareholders.