Harris Corporation (NYSE:HRS) finalized its planned acquisition of CapRock Communications.
The privately-held firm was purchased for $525 million in cash, subject to post-closing adjustments. Private equity firm ABRY Partners was the firm’s majority owner.
CapRock CEO Peter Shaper will remain on to serve as president of the business, functioning as a wholly-owned subsidiary of Harris Corporation.
With nearly three decades of experience, CapRock Communications is a global satellite communications with a focus on the energy, government, maritime, engineering and construction and mining industries.