Harris Corporation denies offering itself for acquisition

02 June 2008

The 45-billion Communications and information technology company Harris Corporation has denied media reports that it was seeking a buyer for itself.

In a ststement Harris acknowledged that from time to time it is approached by other companies with expressions of interest in various types of transactions, including a potential sale of the company. Harris stated today that it is not pursuing a merger or a sale.

''The Board of Directors and I have great confidence in this company, its employees and its future,'' said Howard L. Lance, chairman, president and chief executive officer. ''Harris is uniquely positioned, with access to both government and commercial technologies, to continue to effectively serve the challenging requirements of our growing global assured communications® markets.

''We believe our focus on continuing growth through the introduction of industry-leading new products, expansion of addressable markets, development of new capabilities, international expansion, and strategic acquisitions will deliver significant value going forward for our customers, shareholders and business partners as we have demonstrated in the past,'' Lance said.

The company said that in accordance with its standing policy, it will not make any further statements responding to market rumours or speculation.

The 113-year old Harris Corp, which was founded in 1895, acquired Multimax Inc in June 2007, a supplier of network-centric information technology and communications services for $ 400 million.