Harris said it agreed to sell its broadcast equipment division...
Harris said it agreed to sell its broadcast equipment division to an affiliate of the Gores Group for up to $225 million. Harris will be due $160 million up front, plus a $15 million promissory note and “an earnout” of…
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up to $50 million based on future performance, it said. Harris has been looking for a buyer for the unit since May (CD May 2 p16).