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Technology / AI and automation

HARRIS: $206m FOR GE CHIPS

Harris Corp, Melbourne, Florida now has definitive agreement to buy the General Electric Co semiconductor business, the price is $206m, and completion is set for 30 days. GE Solid State does about $550m a year and Harris says that when combined with its existing chip units, the new operation will have combined sales of about $850m, about two-thirds to commercial markets worldwide, the rest to the government. Harris and AT&T Co said that AT&T would buy the Harris Pactnet satellite ground station technology on undisclosed terms. It will get exclusive technology and marketing rights to Pactnet for commercial installations in the US and major international markets, but Harris will retain US federal government and third world markets.

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CBR Staff Writer

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