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Harris Broadcast Communications

Melbourne, Florida, USA, December 6, 2012 - Harris Corporation (NYSE: HRS) entered into an agreement to sell the Broadcast Communications division to a private independent investor of The Gores Group (TGG), LLC for $ 225 million. Plans to sell the Broadcast Communications division to Harris announced 1 May 2012. “The sale of the Broadcast Communications division is consistent with our strategy for optimizing the business portfolio and focusing activity and resources on core businesses,” said William Brown, President and CEO of Harris Corporation..

“As previously reported, we plan to buy back from free circulation part of our shares for up to $ 200 million after the completion of the transaction. This will be done in addition to the $ 200 million already planned for the 2013 fiscal year, which is in line with our commitments to effectively allocate capital, including returning cash to shareholders. " According to Ryan Wald, managing director of The Gores Group (TGG), when buying Harris Broadcast Communications, TGG invests in a multi-year technology leader with high-tech products and skilled employees.

“We are interested in the opportunity to invest cash in the development of this business and support the transformation of this division into a strong and independent company that will supply the best technology on the market to customers,” Wald said. The Gores Group The Gores Group, LLC is a global investment firm specializing in the acquisition of controlling stakes in both established companies and start-ups, which can use both its management experience and their available funds. Most of the acquired and managed projects are in technology. TGG, founded in 1987 by Alec Gors, consistently acquiring and developing more than 80 companies, has become one of the leaders of the investment market. As of June 30, 2012, TGG owns and manages assets of $ 3.3 billion.

Recent acquisitions include: Powerwave Technologies (wireless solutions for wireless networks), Idea (business application developer), ELO Touch Solutions (a leader in touch technology). The company's headquarters is located in Los Angeles, offices - in Boulder (Colorado) and London. For more information on the TGG, visit gores.com.