L3Harris Technologies Inc ( LHX ) has signed a definitive agreement under which an affiliate of Kanders & Company, Inc. will acquire its antenna and related businesses for $200 million.

The agreement aligns with L3Harris’ portfolio-shaping strategy for non-core assets. The transaction comprises $175 million of cash at closing and a $25 million seller note.

The transaction proceeds are expected to be used consistent with the company's capital allocation plans. 

The divested assets, which offer a variety of airborne and ground-based antennas and test equipment, are a part of the Space & Airborne Systems segment and employ approximately 375 people.

The transaction is expected to close this quarter and is subject to customary closing conditions and regulatory approvals.

Price Action: LHX shares are trading lower by 1.45% at $206.54 on the last check Friday.