Private equity firm Veritas Capital has agreed to acquire Harris Corporation’s government IT services business for $690 million in cash. The transaction is subject to regulatory review and other customary closing conditions and is expected to close in the second quarter of 2017.
Headquartered in Herndon, Virginia, Harris’ government health IT business helps healthcare organizations achieve better patient outcomes by increasing interoperability, making clinical and administrative workflow more efficient and strengthening collaboration across the continuum of care.
In addition to health IT, the government IT services business provides communications, engineering and IT solutions for Intelligence, defense, and federal civilian customers, including supporting NASA’s Space Communications Network and Deep Space Network programs, and operates within Harris’ Critical Networks segment, generating over $1 billion of revenue annually.
In July 2015, Harris Corporation sold their commercial healthcare solutions business to health IT company NantHealth for an undisclosed sum.
