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Harris corporation
acquires zandar technologies
November 30th 2007
DUBLIN,
Ireland/ MELBOURNE, Florida, November
30, 2007 — Harris Corporation (NYSE: HRS), an
international communications and information technology company, has
acquired Zandar Technologies, a privately held developer and
provider of high-quality multi-image video display processors for
television broadcast and professional video markets.
Headquartered
in
Dublin
,
Ireland
, Zandar was founded in
1993 and has pioneered the concept of multi-image video display
technology to provide one integrated interface for multiple sources
such as cameras, TV channels, or video content.
Zandar systems are used for virtual display walls for master
control and situation rooms and broadcast trucks -- providing
centralized video and audio monitoring, alarms, and corrective
action. Customers include BBC and
BSkyB, Alfacam, ESPN/STAR Sports (
Singapore
), ESPN (
USA
), and non-broadcast customers such as
the FBI.
"We know Zandar very well, and have high
regard for their products” said Tim Thorsteinson, president of
Harris Broadcast Communications. “Combining our product portfolios
will provide us with immediate new opportunities and put us in a
leadership position in a very attractive, growing worldwide market.
“The multi-image display processor market has
grown rapidly over the past decade as increasing numbers of video
and audio channels require more monitoring consolidation and a
flexible, scalable system for the prevention, detection, and
correction of signal errors. Zandar’s compact, scalable systems,
such as the new Predator II™ and QS100™ series introduced at
IBC, combined with the larger-format Harris CENTRIO™ multiviewer
systems, represent a great complement of product lines and an
excellent platform for future growth through market expansion,” he
added.
Deirdre Smith, chief executive officer of Zandar,
said, “The combination of Zandar and Harris will create an
organization capable of providing exceptional systems creativity,
quality, and value for the multi-image display processor market with
Harris world class
sales, channels distribution, service and support. Multi-format,
multi-resolution, and multi-channel broadcast environments continue
to present new challenges in video and audio monitoring, and we are
delighted to be part of an organization that is making the long-term
commitment necessary to lead the industry transition to multi-image
display systems. Harris
has been a great partner during the past several years, and we
believe our customers and employees will benefit greatly from the
size, resources, and the research and development capabilities they
bring to on-going market pursuits.”
Harris Broadcast Communications offers products,
systems and services that provide interoperable workflow solutions
that span the entire broadcast delivery chain. The Harris ONE
approach brings together highly integrated and cost-effective
products that are ideal for emerging media business models and for
customers upgrading media operations to digital and high-definition
services.
Editor’s
notes
About
Zandar Technologies plc
Zandar Technologies is a leader in the
development of high quality multi-source display processors that
match the specific needs of any display, monitoring and surveillance
environment. Founded in 1993, the company combines innovation and
experience to provide a wide range of expansive, flexible and
resilient MultiViewer solutions for many applications including the
FusionPro+, Predator, DX and MX series.
Zandar’s international
customer base includes many of the world’s leading companies in
the Broadcast, Security and professional Audio Visual markets. The
company’s dedicated sales and engineering team, professional
resellers and responsive technical support specialists underline a
commitment to quality, continuous improvement and customer
satisfaction. For further information about this and other leading
MultiViewer products visit
www.zandar.com.
About
Harris Corporation
Harris is an international communications and information technology
company serving government, defense and commercial markets in more
than 150 countries. Headquartered in
Melbourne
,
Florida
, the company has annual revenue of over $4 billion and 16,000
employees — including nearly 7,000 engineers and scientists.
Harris is dedicated to developing best-in-class assured
communications™products, systems, and services. Additional
information about Harris Corporation is available at www.harris.com.
Forward-Looking Statement
Statements in this press
release that are not historical facts are forward-looking statements
that reflect management's current expectations, assumptions, and
estimates of future performance and economic conditions. Such
statements are made in reliance upon the safe harbor provisions of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward-looking statements in this
release include but are not limited to the timing and anticipated
benefits to the Company related to the acquisition of Zandar
Technologies. The Company cautions investors that any
forward-looking statements are subject to risks and uncertainties
that may cause actual results and future trends to differ materially
from those matters expressed in or implied by such forward-looking
statements. The Company's consolidated results and the
forward-looking statements could be affected by many factors,
including but not limited to: our participation in markets that are
often subject to uncertain economic conditions which makes it
difficult to estimate growth in our markets and, as a result, future
income and expenditures; our dependence on the U.S. government for a
significant portion of our revenues, as the loss of this
relationship or a shift in U.S. government funding could have
adverse consequences on our future business; potential changes in
U.S. government or customer priorities due to program reviews or
revisions to strategic objectives, including termination of or
potential failure to fund U.S. government contracts; risks inherent
with large long-term fixed-price contracts, particularly the ability
to contain cost overruns; the performance of critical subcontractors
or suppliers; financial and government and regulatory risks relating
to international sales and operations, including fluctuations in
foreign currency exchange rates and the effectiveness of our
currency hedging program; our ability to continue to develop new
products that achieve market acceptance; the consequences of future
geo-political events, which may affect adversely the markets in
which we operate, our ability to insure against risks, our
operations or our profitability; strategic acquisitions and the
risks and uncertainties related thereto, including our ability to
manage and integrate acquired businesses; potential claims that we
are infringing the intellectual property rights of third parties;
the successful resolution of patent infringement claims and the
ultimate outcome of other contingencies, litigation and legal
matters; customer credit risk; the fair values of our portfolio of
passive investments, which values are subject to significant price
volatility or erosion; risks inherent in developing new
technologies; the potential impact of hurricanes on our operations
in Florida and the potential impact of earthquakes on our operations
in California; the ability to recruit and retain qualified
personnel; and general economic conditions in the markets in which
we operate. Further information relating to factors that may impact
the Company's results and forward-looking statements are disclosed
in the Company's filings with the SEC. Harris disclaims any
intention or obligation, except as imposed by law, to update or
revise any forward-looking statements, whether as a result of new
information, future events, or otherwise.
#
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Zandar Technologies:
For further information about this and other leading MultiViewer
products please visit www.zandar.com
or contact:
Monica Heck
Marketing Manager
mheck@zandar.com
Tel: +353-1-450 0901
Fax: +353-1-450 0977
Harris:
Investor Relations inquiries: Pamela
Padgett at 321-727-9383, or pamela.padgett@harris.com
Media inquiries: Jim
Burke at 321-727-9131, or jim.burke@harris.com
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