The Gores Group Buys Harris Broadcast Communications

Los Angeles-based private equity firm The Gores Group said Monday afternoon that it has acquired Harris Broadcast Communications, a supplier of hardware and software to create, manage, transmit, and distribute video content. The deal had been announced in December, and was worth $225M. Harris Broadcast Communications was formerly a division of Harris Corporation, and will become its own, stand-alone company with the deal. Harris Broadcast Communications said it will use the buy to "move the business forward" and help drive innovation, streamline operations, and improve customer service.