Summary
L3Harris Technologies, Inc. (LHX) announced the completion of its acquisition of Encoda Systems Holdings, Inc. on November 3, 2004. The company acquired all capital stock and equity of Encoda for an aggregate purchase price of $340 million. This acquisition includes the payoff of Encoda's outstanding debt and transaction expenses from the purchase price. Encoda is a significant player in the broadcast industry, offering end-to-end enterprise software and service solutions. Its offerings include traffic and billing systems, program scheduling, master control automation, and digital asset management. This move strategically positions L3Harris within the broadcast technology sector, aiming to leverage Encoda's expertise and market presence.
Key Highlights
- 1Completion of acquisition of Encoda Systems Holdings, Inc. for $340 million.
- 2Encoda is a leading provider of broadcast enterprise software and services.
- 3Acquisition strengthens L3Harris's presence in the broadcast technology market.
- 4Encoda's existing debt and transaction expenses were paid at closing.
- 5The acquisition was finalized on November 3, 2004.
- 6Encoda was previously privately held by investment firms.