Frequentis acquires parts of ATM product segment from L3Harris Technologies

Frequentis AG announced (23-Feb-2021) an agreement to acquire the ATM voice communications and arrival management product business from L3Harris Technologies for USD20.1 million, subject to customary net debt and working capital based purchase price adjustments at closing. The transaction is subject to competition clearance and regulatory approvals. The deal comprises the acquisition of

• The ATM voice communication systems product line of L3Harris in the US;
• The Harris ATC Solutions business unit of Harris Canada Systems in Gatineau, Canada;
• 100% of the shares in Harris C4i in Melbourne, Australia;
• 100% of the shares in Harris Orthogon in Bremen, Germany;

The deal is expected to contribute (post-closing) revenues of around EUR30million p/a to Frequentis. In addition to such acquisitions, L3Harris and Frequentis have entered into cooperation agreements under which Frequentis will provide voice communication products for use in L3Harris' large-scale solutions and services business. [more - original PR]