L3Harris explained

L3Harris Technologies, Inc.
Type:Public
Hq Location:Melbourne, Florida, United States
Key People:Chris Kubasik (Chair and CEO)
Industry:Aerospace and defense
Revenue Year:2023
Income Year:2023
Net Income Year:2023
Assets Year:2023
Equity Year:2023
Num Employees:50,000
Num Employees Year:2023
Footnotes:[1] [2]

L3Harris Technologies, Inc. is an American technology company, defense contractor, and information technology services provider that produces command and control systems and products, wireless equipment, tactical radios, avionics and electronic systems, night vision equipment, and both terrestrial and spaceborne antennas for use in the government, defense, and commercial sectors.

The company was formed from the merger of L3 Technologies and Harris Corporation on June 29, 2019,[3] which made it the sixth-largest defense contractor in the United States.[4] [5] [6]

History

See main article: L3 Technologies and Harris Corporation. The "Harris Automatic Press Company" was founded by Alfred S. Harris in Niles, Ohio, in 1895. The company spent the next 60 years developing lithographic processes and printing presses before acquiring typesetting company Intertype Corporation. In 1967, they merged with Radiation, Inc. of Melbourne, Florida, a developer of antenna, integrated circuit, and modem technology used in the space race. The company headquarters was moved from Cleveland to Melbourne in 1978.[7] [8] In May 2015, Harris finalized the purchase of competitor Exelis Inc., almost doubling the size of the original company.[9]

L-3 Communications was formed in 1997 to acquire certain business units from Lockheed Martin that had previously been part of Loral Corporation. These units had belonged to Lockheed Corporation and Martin Marietta, which had merged three years before in 1993.[10] The company was founded by, and named for, Frank Lanza and Robert LaPenta in partnership with Lehman Brothers. Lanza and LaPenta had both served as executives at Loral and Lockheed.[11] The company continued to expand through mergers and acquisitions to become one of the top ten U.S. government contractors.[12] At the end of 2016, the company changed its name from L-3 Communications Holdings, Inc. to L3 Technologies, Inc. to better reflect the company's wider focus since its founding in 1997.[13]

Between 1999 and August 2021, L3Harris and predecessors spent $131.9 million lobbying for ICE radio procurement ($20,000),[14] the Intelligence Authorization Act ($​1,510,000),[15] DHS fund appropriations for unmanned vehicles ($430,000),[16] and night vision systems research ($20,000).[17]

In 2008, 72 Iraqi civilians sued L3 Services and CACI for human rights violations including "torture; cruel, inhuman, or degrading treatment; war crimes; assault and battery; sexual assault and battery; intentional infliction of emotional distress; negligent hiring and supervision; and negligent infliction of emotional distress." A settlement was reached on October 10, 2012, which was the "first positive resolution to a U.S. civil case challenging detainee treatment outside the United States in the larger 'war on terror' context".[18]

In 2012, L3 subsidiary KDI Precision Products participated in the sale of 11,500 JDAM bomb fuses to Israel, part of a $647 million contract deal.[19] These were among the weapons used by the IDF in the 2014 Gaza War; after the use of weapons in densely populated civilian areas, the U.N. High Commissioner for Human Rights highlighted the IDF's weapons usages as constituting potential war crimes (along with Palestinian violence against Israeli civilians).[20] [21]

In October 2018, Harris and L3 announced an all-stock "merger of equals". As part of that deal, Harris was required to sell its night vision division. The reasoning was that a merger of Harris and L3's night vision departments would create an effective monopoly on the night vision industry.[22] The merger was completed in June 2019. The new company, L3Harris Technologies, Inc., is based in Melbourne, Florida, where Harris was headquartered. The new company was led by former Harris CEO William M. Brown as the Chairman and CEO, with former L3 CEO as the President and COO. In June 2021, Brown turned over the role of CEO to Chris Kubasik, retaining the title of Executive Chair, and Kubasik adding the title of Vice Chair.[23]

Between 2006 and July 2021, L3Harris was awarded 136 U.S. Customs and Border Protection and Immigration and Customs Enforcement contracts totalling $308.2 million, "as well as six blanket purchase orders potentially worth up to $6 billion".[24] [25]

In 2018, L3Harris acquired two Australian cybertechnology companies, Azimuth Security and Linchpin Labs. The two companies are reportedly suppliers of zero-day exploits for the Five Eyes[26] [27] and the Federal Bureau of Investigation.

In 2019, L3Harris paid $13 million to settle allegations that Harris, before the merger, violated Arms Export Control Act and International Traffic in Arms Regulations regulations.[28] According to a proposed charging letter [29] Harris Corporation violated AECA (22U.S.C.2751 et seq.) and ITAR (22 CFR parts 120–131) for a total of 131 separate violations.

In January 2022, L3Harris reorganized its business structure, eliminating the Aviation Systems business segment and distributing its divisions between the remaining three Integrated Mission Systems, Space & Airborne Systems, and Communications Systems segments.[30]

In June 2022, Chris Kubasik succeeded as the Chair following Bill Brown's retirement.[31]

In June 2022, it was reported to have held talks to purchase the Israeli company NSO, which builds Pegasus spyware.[32] White House officials heard of the talks and voiced opposition, resulting in L3Harris discontinuing its plans.[26]

In December 2022, L3Harris agreed to buy Aerojet Rocketdyne Holdings for $4.7 billion in cash.[33] The acquisition was completed on 28 July 2023.[34]

Business organization

, L3Harris is organized under four business segments: Integrated Mission Systems, Space & Airborne Systems, Communication Systems, and Aerojet Rocketdyne. It is led by a 13-member board of directors, including chair and CEO Chris Kubasik.

Integrated Mission Systems

Headquartered in Palm Bay, Florida, Integrated Missions Systems specializes in intelligence, surveillance, and reconnaissance (ISR) and signals intelligence systems; electrical and electronic systems for maritime use; electro-optical systems including infrared, laser imaging, and targeting systems; defense aviation systems including weapons systems and UAVs; and commercial aviation services including the L3Harris Airline Academy. It comprises divisions, including some of those formerly in the Aviation Systems segment and Wescam, that had a combined revenue of $7.0 billion in 2021.

In November 2023, L3Harris announced that it would sell its Commercial Aviation Solutions business to The Jordan Company for up to $800 million.[35]

Space & Airborne Systems

Headquartered in Palm Bay, Florida, Space & Airborne Systems specializes in space mission, payloads, and sensors for satellite navigation, ISR, weather, and missile defense; ground systems for space command and control and tracking; optical and wireless networking for situational awareness and air traffic management; defense avionics; and electronic warfare countermeasures. It comprises divisions, including some of those formerly in the Aviation Systems segment, that had a combined revenue of $6.0 billion in 2021.

Communications Systems

Headquartered in Rochester, New York, Communications Systems specializes in tactical communications, broadband communications, night vision (inherited from L3 Technologies, unrelated to night vision developed by Harris, ITT, or Exelis), and public safety. It comprises divisions that had a combined revenue of $4.3 billion in 2021.

Aerojet Rocketdyne

See main article: Aerojet Rocketdyne. Headquartered in Palm Bay, Florida, Aerojet Rocketdyne consists of two sectors: "Missile Solutions" and "Space Propulsion and Power Systems".[36] Aerojet Rocketdyne had $2.2 billion in revenue in 2022,[37] prior to its 2023 purchase by L3Harris.

Products

Notes and References

  1. Web site: L3Harris Investor Overview. L3Harris.com. February 16, 2022. February 16, 2022. https://web.archive.org/web/20220216152118/https://www.l3harris.com/sites/default/files/2022-02/L3Harris_InvestorOverview_Feb2022.pdf. live.
  2. Web site: L3Harris Technologies, Inc. 2023 Annual Report (Form 10-K) . . sec.gov . February 20, 2024 . February 21, 2024 . February 21, 2024 . https://web.archive.org/web/20240221084754/https://www.sec.gov/ix?doc=/Archives/edgar/data/202058/000020205824000029/hrs-20231229.htm . live .
  3. L3Harris Technologies Merger Successfully Completed; Board of Directors, Leadership and Organization Structure Announced. . July 4, 2019 . L3Harris Technologies . June 29, 2019 . en . July 4, 2019 . https://web.archive.org/web/20190704140348/https://www.l3harris.com/press-releases/2019/07/87386/l3harris-technologies-merger-successfully-completed;-board-of-directors,-leadership-and-organization-structure-announced . dead .
  4. News: Thompson . Loren . Defense Contractor L3 Technologies Surges As It Prepares To Enter Big Leagues . July 4, 2019 . Forbes . June 7, 2019 . en . July 4, 2019 . https://web.archive.org/web/20190704162308/https://www.forbes.com/sites/lorenthompson/2019/06/07/defense-contractor-l3-technologies-surges-as-it-prepares-to-enter-big-leagues/ . live .
  5. News: Harris and L3 agree merger to become sixth-largest U.S. defense contractor. Reuters. October 14, 2018. www.reuters.com. May 6, 2020. August 3, 2020. https://web.archive.org/web/20200803190811/https://www.reuters.com/article/us-m-a-defense-harris-l3-idUSKCN1MO0PV. live.
  6. Web site: Harris, L3 merger creates 6th largest U.S. defense contractor. UPI. January 28, 2020. January 28, 2020. https://web.archive.org/web/20200128043308/https://www.upi.com/Defense-News/2018/10/15/Harris-L3-merger-creates-6th-largest-US-defense-contractor/1881539613383/. live.
  7. News: Harris marks four decades of having its headquarters in Brevard . June 9, 2018 . . Price . Wayne . July 1, 2022 . July 5, 2022 . https://web.archive.org/web/20220705035718/https://www.floridatoday.com/story/news/2018/06/08/harris-marks-four-decades-having-headquarters-brevard/685726002/ . live .
  8. Harris Corporation Announces Headquarters and Segment Locations . July 10, 2015 . . July 1, 2022 . July 1, 2022 . https://web.archive.org/web/20220701062639/https://www.businesswire.com/news/home/20150710005593/en/Harris-Corporation-Announces-Headquarters-and-Segment-Locations . live .
  9. Harris Corporation Completes Acquisition Of Exelis. May 29, 2015. September 2, 2016. September 13, 2016. https://web.archive.org/web/20160913163330/http://www.businesswire.com/news/home/20150529005517/en/. live.
  10. Web site: l1id.com. https://web.archive.org/web/20140228142751/http://www.l1id.com/pages/209-robert-v-lapenta. dead. February 28, 2014. www.l1id.com.
  11. Web site: History of L-3 Communications Holdings, Inc. – FundingUniverse. www.fundinguniverse.com. June 25, 2017. live. https://web.archive.org/web/20170703080242/http://www.fundinguniverse.com/company-histories/l-3-communications-holdings-inc-history/. July 3, 2017.
  12. Web site: 2011 Washington Technology Top 100. December 10, 2011. live. https://web.archive.org/web/20111211223303/http://washingtontechnology.com/toplists/top-100-lists/2011.aspx. December 11, 2011.
  13. L-3 Communications to Change Name to L3 Technologies, Inc.. L-3 Communications, Inc.. December 6, 2016. December 6, 2016. live. https://web.archive.org/web/20161215152520/http://www.l-3com.com/press-release/l-3-communications-change-name-l3-technologies-inc. December 15, 2016.
  14. Web site: LD-2 Disclosure Form . 2024-05-31 . lda.senate.gov.
  15. Web site: LD-2 Disclosure Form . 2024-05-31 . lda.senate.gov.
  16. Web site: LD-2 Disclosure Form . 2024-05-31 . lda.senate.gov.
  17. Web site: LD-2 Disclosure Form . 2024-05-31 . lda.senate.gov.
  18. Web site: Al-Quraishi, et al. v. Nakhla and L-3 Services . 2024-05-31 . Center for Constitutional Rights . en.
  19. Web site: admin . 2012-12-13 . Israel requests sale of JDAM tail kits from US . 2024-05-31 . Airforce Technology . en-US.
  20. https://www.ohchr.org/en/hr-bodies/hrc/co-i-gaza-conflict/report-co-i-gaza The United Nations Independent Commission of Inquiry on the 2014 Gaza Conflict
  21. https://web.archive.org/web/20240321073956/https://www.inew.org/wp-content/uploads/2015/06/A_HRC_CRP_4.pdf United Nations Report of the Independent Commission of Inquiry on the 2014 Gaza Conflict - A/HRC/29/52.
  22. Web site: Justice Department Requires Harris and L3 to Divest Harris's Night Vision Business to Proceed with Merger . United States Department of Justice . April 7, 2022 . https://web.archive.org/web/20210330094316/https://www.justice.gov/opa/pr/justice-department-requires-harris-and-l3-divest-harris-s-night-vision-business-proceed . March 30, 2021 . June 20, 2019.
  23. Christopher E. Kubasik Succeeds William M. Brown as CEO of L3Harris Technologies . July 20, 2021 . L3Harris . June 29, 2021 . en . July 20, 2021 . https://web.archive.org/web/20210720191051/https://www.l3harris.com/newsroom/press-release/2021/06/christopher-e-kubasik-succeeds-william-m-brown-ceo-l3harris . live .
  24. Web site: L3Harris Technologies Inc AFSC Investigate . 2024-05-31 . investigate.afsc.org.
  25. Web site: USAspending.gov . 2024-05-31 . www.usaspending.gov . en.
  26. News: Mazzetti . Mark . Bergman . Ronen . July 10, 2022 . Defense Firm Said U.S. Spies Backed Its Bid for Pegasus Spyware Maker . en-US . The New York Times . July 11, 2022 . 0362-4331 . September 7, 2022 . https://web.archive.org/web/20220907213536/https://www.nytimes.com/2022/07/10/us/politics/defense-firm-said-us-spies-backed-its-bid-for-pegasus-spyware-maker.html . live .
  27. Web site: How a Tiny Startup Became the Most Important Hacking Shop You've Never Heard Of . July 11, 2022 . www.vice.com . February 7, 2018 . en . July 10, 2022 . https://web.archive.org/web/20220710234115/https://www.vice.com/en/article/8xdayg/iphone-zero-days-inside-azimuth-security . live .
  28. Web site: L3Harris agrees to $13 million settlement following ITAR violations InsideDefense.com. February 1, 2022. insidedefense.com. February 1, 2022. https://web.archive.org/web/20220201222044/https://insidedefense.com/insider/l3harris-agrees-13-million-settlement-following-itar-violations. live.
  29. Web site: Proposed Charging Letter. September 26, 2019. Alleged Violations of the Arms Export Control Act and the International Traffic in Arms Regulations by L3Harris Technologies, Inc. live. February 1, 2022. U.S. Department of State Directorate of Defense Trade Controls. April 27, 2023. https://web.archive.org/web/20230427231956/https://www.pmddtc.state.gov/sys_attachment.do?sysparm_referring_url=tear_off&view=true&sys_id=ff9be8dadb0044107ede365e7c96190f.
  30. News: Kilgore . Tomi . L3Harris streamlines businesses to 3 segments from 4 . January 3, 2022 . MarketWatch . January 3, 2022 . EN-US . January 3, 2022 . https://web.archive.org/web/20220103140037/https://www.marketwatch.com/story/l3harris-streamlines-businesses-to-3-segments-from-4-2022-01-03 . live .
  31. FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 . . June 30, 2022 . June 30, 2022 . 1 . Consistent with the Merger Agreement and Mr. Brown’s and Mr. Kubasik’s respective employment arrangements, on June 29, 2022, (a) Mr. Brown ceased being Chair of L3Harris and retired from L3Harris; (b) and Mr. Kubasik, age 61, succeeded him as Chair of L3Harris, becoming Chair and Chief Executive Officer of L3Harris, and ceased being Vice Chair of L3Harris. . July 1, 2022 . https://web.archive.org/web/20220701060753/https://www.sec.gov/ix?doc=/Archives/edgar/data/202058/000020205822000044/hrs-20220630.htm . live .
  32. News: Infamous Israeli Spyware Maker NSO in Talks to Be Sold to U.S. Defense Firm . en . Haaretz . June 14, 2022 . June 14, 2022 . https://web.archive.org/web/20220614200237/https://www.haaretz.com/israel-news/2022-06-14/ty-article/.premium/infamous-israeli-spyware-maker-nso-in-talks-to-be-sold-to-u-s-defense-firm/00000181-63a4-d91f-a7d7-73a4a91c0000 . live .
  33. News: Gomez . Nathan . Ghosh . Kanjyik . December 19, 2022 . Defense firm L3Harris to buy Aerojet for $4.7 bln with eye on missile demand . Reuters . January 29, 2023 . January 20, 2023 . https://web.archive.org/web/20230120222730/https://www.reuters.com/markets/deals/defense-firm-l3harris-buy-aerojet-47-bln-with-eye-missile-demand-2022-12-19/ . live .
  34. L3Harris Completes Aerojet Rocketdyne Acquisition . L3Harris . 31 July 2023 . www.l3harris.com . 28 July 2023 . en . July 31, 2023 . https://web.archive.org/web/20230731142440/https://www.l3harris.com/newsroom/press-release/2023/07/l3harris-completes-aerojet-rocketdyne-acquisition . live .
  35. Web site: Archived copy . November 28, 2023 . November 27, 2023 . https://web.archive.org/web/20231127195008/https://www.l3harris.com/newsroom/press-release/2023/11/l3harris-announces-definitive-agreement-commercial-aviation-solutions . live .
  36. News: Weisgerber . Marcus . On Day 1 of ownership, L3Harris pledges to invest in Aerojet Rocketdyne . 31 July 2023 . Defense One . 28 July 2023 . en . July 31, 2023 . https://web.archive.org/web/20230731144200/https://www.defenseone.com/business/2023/07/day-1-ownership-l3harris-pledges-invest-aerojet-rocketdyne/388937/ . live .
  37. Web site: Aerojet Rocketdyne Holdings, Inc. Reports 2022 Fourth Quarter and Annual Results . Edgar . www.sec.gov . 31 July 2023 . 15 February 2023 . July 31, 2023 . https://web.archive.org/web/20230731144158/https://www.sec.gov/Archives/edgar/data/40888/000117184323000986/exh_991.htm . live .
  38. Web site: Richtel. Matt. A Police Gadget Tracks Phones? Shhh! It's Secret. The New York Times. April 4, 2015. March 15, 2015. April 3, 2015. https://web.archive.org/web/20150403040530/http://www.nytimes.com/2015/03/16/business/a-police-gadget-tracks-phones-shhh-its-secret.html?_r=0. live.
  39. Gallagher . Ryan . FBI Documents Shine Light on Clandestine Cellphone Tracking Tool . . August 5, 2014 . January 10, 2013 . August 5, 2014 . https://web.archive.org/web/20140805185747/http://www.slate.com/blogs/future_tense/2013/01/10/stingray_imsi_catcher_fbi_documents_shine_light_on_controversial_cellphone.html . live .
  40. Web site: L3Harris extends OEMServices contract . May 6, 2022 . L3Harris . May 6, 2022 . April 29, 2022 . https://web.archive.org/web/20220429134941/https://verticalmag.com/press-releases/l3harris-extends-oemservices-contract/ . live .
  41. Web site: L3Harris boosts AOG support capability with OEMServices deal . May 6, 2022 . Times Aerospace . May 6, 2022 . May 10, 2022 . https://web.archive.org/web/20220510063050/https://www.timesaerospace.aero/news/maintenance/l3harris-boosts-aog-support-capability-with-oemservices-deal . live .
  42. Web site: L3Harris hC2™ Software Suite. April 11, 2016. L3Harris. September 13, 2019. January 8, 2019. https://web.archive.org/web/20190108060013/https://www.harris.com/solution/harris-rf-7800n-bmxxx-hc2-software-suite. live.
  43. Web site: High-Performance Integrated Core Processor (ICP) . December 14, 2021 . L3Harris . December 14, 2021 . December 14, 2021 . https://web.archive.org/web/20211214090040/https://www.l3harris.com/all-capabilities/high-performance-integrated-core-processor-icp . live .

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