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New York-based L3Harris Technologies will acquire Los Angeles-based space propulsion specialist Aerojet Rocketdyne Holdings, Inc for US$4.7 billion.
This marks L3Harris’ second acquisition announcement of 2022, demonstrating its continued focus on delivering critical capabilities to warfighters while strengthening the nation’s defense industrial base through increased competition.
“We’ve heard the DoD leadership loud and clear: they want high-quality, innovative and cost-effective solutions to meet both current and emerging threats, and they’re relying upon a strong, competitive industrial base to deliver those solutions,” said Christopher E. Kubasik, L3Harris CEO and Chair.
L3Harris has a significant footprint in Australia. Among other things it is delivering four MC-55A Peregrine Electronic Warfare aircraft – heavily modified Gulfstream G550s – and the tactical communications network for the ADF under Project LAND 200.
A proven provider of world-class propulsion systems and energetics to the DoD, NASA and other partners and allies worldwide, Aerojet Rocketdyne has a 100-year heritage in space exploration and discovery, while leading the industry with investments in rocket propulsion that support America’s warfighters and enhance integrated deterrence.
This acquisition will ensure the US defence industrial base and the two companies’ customers will have a strengthened merchant supplier to effectively address both current and emerging threats and promote scientific discovery and innovation through targeted investment in advanced missile technologies, hypersonics and more.
“As part of L3Harris, we will bring our advanced technologies together with their substantial expertise and resources to accelerate our shared purpose: enabling the defense of our nation and space exploration,” said Eileen P. Drake, CEO and President of Aerojet Rocketdyne.