M&A Deal Summary

EMCORE Acquires L3Harris Technologies - Space & Navigation Business

On February 15, 2022, EMCORE acquired electronics company L3Harris Technologies - Space & Navigation Business from L3Harris for 5M USD

Acquisition Highlights
  • This is EMCORE’s 1st transaction in the Electronics sector.
  • This is EMCORE’s 2nd largest (disclosed) transaction.
  • This is EMCORE’s 3rd transaction in the United States.
  • This is EMCORE’s 1st transaction in Florida.

M&A Deal Summary

Date 2022-02-15
Target L3Harris Technologies - Space & Navigation Business
Sector Electronics
Buyer(s) EMCORE
Sellers(s) L3Harris
Deal Type Divestiture
Deal Value 5M USD

Target

L3Harris Technologies - Space & Navigation Business

Melbourne, Florida, United States
L3Harris Technologies's Space & Navigation Business designs and builds Navigation products.

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Buyer(S) 1

Buyer

EMCORE

Alhambra, California, United States

Category Company
Founded 1984
Sector Semiconductors
Employees350
Revenue 98M USD (2023)
DESCRIPTION

EMCORE is a provider of compound semiconductor-based products for the fiber optics markets. EMCORE’s Fiber Optics business segment provides optical components, subsystems and systems for high-speed telecommunications, Cable Television (CATV) and Fiber-To-The-Premise (FTTP) networks, as well as products for satellite communications, video transport and specialty photonics technologies for defense and homeland security applications. EMCORE was founded in 1984 and is based in Alhambra, California.


DEAL STATS #
Overall 3 of 3
Sector (Electronics) 1 of 1
Type (Divestiture) 1 of 1
State (Florida) 1 of 1
Country (United States) 3 of 3
Year (2022) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-10 Systron Donner Inertial

Concord, California, United States

Systron Donner, Inc. is a provider of quartz microelectromechanical systems (QMEMS) used in inertial sensing products that provide precision guidance, navigation, and locational solutions, Systron Donner develops products that have been used in everything from business aircraft to fighter jets to the MARS Rover. Systron Donner, Inc. was founded in 1953 and is based in Concord, California.

Buy $26M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-02 EMCORE - Chips business and wafer fabrication operations

Alhambra, California, United States

EMCORE's Chips business and wafer fabrication operations is a non-core discontinued Chips business line, including the assets used in our InP wafer fabrication operations in Alhambra, California, including without limitation equipment, contracts, intellectual property and inventory.

Sell $3M

Seller(S) 1

SELLER

L3Harris

Melbourne, Florida, United States

Category Company
Founded 1895
Sector Defense
Employees47,000
Revenue 19.4B USD (2023)
DESCRIPTION
Entrance to L3Harris' corporate headquarters in Melbourne, Florida.
Entrance to L3Harris' corporate headquarters in Melbourne, Florida.

L3 Harris is a producer of communications products, systems and services for global markets, including RF communications, integrated network solutions and government communications systems. L3Harris Technologies was founded in 1895 and is based in Melbourne, Florida.


DEAL STATS #
Overall 20 of 23
Sector (Electronics) 3 of 3
Type (Divestiture) 19 of 22
State (Florida) 5 of 7
Country (United States) 20 of 23
Year (2022) 1 of 1
Size (of disclosed) 12 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-07 Narda-MITEQ

Hauppauge, New York, United States

Narda-MITEQ designs, engineers, and manufactures custom radiofrequency (“RF”) and microwave subsystems and components for defense and commercial end markets. Narda-MITEQ is based in Hauppauge, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-03 Link 16

Carlsbad, California, United States

Link 16's network is integrated into military aircraft, ground vehicles, surface vessels, and operating bases, enabling warfighters across multiple domains to securely share voice and data communications.

Buy $2.0B