08:57 AM EDT, 04/05/2024 (MT Newswires) -- L3Harris Technologies ( LHX ) said Friday it has agreed to sell its antenna and related businesses to an affiliate of Kanders & Company for $200 million.

The consideration comprises $175 million in cash at closing and a $25 million seller note. The acquisition is in line with its strategy of selling non-core assets, the company said.

Proceeds from the sale will be used for capital allocation plans. The transaction is expected to close this quarter.

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