The Gores Group, a Los Angeles-based investment firm, has completed the acquisition of Harris Broadcast Communications — a fact that Harris expects to deliver additional resources for expansion.
"This is an exciting new chapter for Harris Broadcast, our employees and our customers," said Harris Morris, CEO of Harris Broadcast. "The Gores Group is an ideal fit to help us move the business forward and help drive innovation, streamline operations and improve customer service. They will also provide us additional resources such as a flexible capital base and introduce new talent to the company."
Harris Broadcast, formerly a division of Harris Corporation, is a global supplier of hardware and software that creates, manages, transmits, distributes and monetises video content. Harris is headquartered in Denver, Colorado.
"We anticipate great things from Harris Broadcast. The company has proven technology, great products and an outstanding team," said Ryan Wald, managing director of The Gores Group. "With our equity capital and guidance we are confident that Harris Broadcast will transition to a strong independent company that will continue to develop and deliver market leading technology and service to its customers."