Harris to consider options for Harris Stratex Networks subsidiary

By Lisa Kerner

Charlotte, N.C., Dec. 8 - Harris Corp. said it is evaluating strategic alternatives for its majority-owned subsidiary, Harris Stratex Networks, Inc.

Alternatives could include a spinoff, splitoff, secondary public offering or a sale of all or part of Harris' share, said chairman, president and chief executive officer Howard L. Lance in a company news release.

Harris has a 56% interest in Harris Stratex, formed almost one year ago through the combination of the Harris microwave communications division and Stratex Networks, Inc.

Lance went on to say that while Harris Stratex is not a "strong strategic fit" with the rest of the Harris portfolio, the company's current management team is capable of moving Harris Stratex forward.

Harris is a communications and information technology company located in Melbourne, Fla.

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