L3Harris sells majority stake in commercial space propulsion, power and electronics units to AE Industrial for $845 million enterprise value
LHX•L3Harris completes sale of majority stake in space units
L3Harris completed the sale of a majority stake in its commercial space propulsion, power and electronics businesses to AE Industrial Partners.
- Total enterprise value of the transaction was $845 million.
- RS-25 rocket engine operations were excluded from the deal.
- L3Harris retained about a 40% stake in AE Industrial Partners’ new space technologies business, to be named Rocketdyne.
- Proceeds are expected to be used for facility investment and advanced technologies to support growth demand.
