The Gores Group Completes Acquisition of Harris Broadcast Communications

Former division of Harris Corporation will become stand-alone company

LOS ANGELES--()--The Gores Group, a Los Angeles based investment firm that acquires controlling interests in mature and growing businesses, today announced it has completed the acquisition of Harris Broadcast Communications.

Harris Broadcast, formerly a division of Harris Corporation, is a global supplier of hardware and software that creates, manages, transmits, distributes and monetizes video content. Headquartered in Denver, CO, the company is widely recognized as the preeminent brand in the broadcast communications equipment industry. It is well known for delivering an end-to-end breadth of offerings and for creating quality and reliable products.

“This is an exciting new chapter for Harris Broadcast, our employees and our customers,” said Harris Morris, CEO of Harris Broadcast. “The Gores Group is an ideal fit to help us move the business forward and help drive innovation, streamline operations and improve customer service. They will also provide us additional resources such as a flexible capital base and introduce new talent to the Company.”

Carl Vogel, a veteran of the cable television and satellite industry, is a senior advisor to The Gores Group and will be a member of the Gores team providing advice and strategic guidance to the Company.

Ryan Wald, Managing Director of The Gores Group added, “We anticipate great things from Harris Broadcast. The Company has proven technology, great products and an outstanding team. With our equity capital and guidance we are confident that Harris Broadcast will transition to a strong independent company that will continue to develop and deliver market leading technology and service to its customers.”

About The Gores Group

The Gores Group, LLC is a global investment firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group, which was founded in 1987 by Alec E. Gores, has become a leading investor having demonstrated over time a reliable track record of creating value in its portfolio companies alongside management. Headquartered in Los Angeles, The Gores Group maintains offices in Boulder, CO, and London. For more information, please visit www.gores.com.

Contacts

For The Gores Group, LLC
Frank Stefanik
(310) 209-3010
or
Terry Fahn
Sitrick And Company
(310) 788-2850

Release Summary

The Gores Group, a Los Angeles based investment firm that acquires controlling interests in mature and growing businesses, today announced it has completed the acquisition of Harris Broadcast.

Contacts

For The Gores Group, LLC
Frank Stefanik
(310) 209-3010
or
Terry Fahn
Sitrick And Company
(310) 788-2850