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No Sale for Harris

Lance said this week the company is in a ‘good place’ overall.

Harris Corp. isn’t for sale, it said this week.

The company — parent of Harris Broadcast, and a large defense communications and information technology supplier — made that clear when Chairman, President and Chief Executive Howard Lance spoke to Reuters Monday.

“Harris is not pursuing any transaction,” he said, adding that Harris did not initiate a process to sell, despite media reports and speculation that it was looking for a buyer, the news agency reported.

“The whole area of communications and IT is going to continue to be a very good place to be,” he was quoted as saying. “I just don’t think we’re serving a market that overnight is going to dry up and go away.”

The company’s annual revenue is more than $5 billion; it has 16,000 employees.