The acquisition of Exelis Inc. by Harris Corporation is expected to close next week. On Friday, Exelis announced its shareholders approved the merger agreement.
It was announced earlier this year that Harris agreed to buy Exelis in a transaction valued at $4.75 billion as the telecommunications equipment company expands into aerospace.
Both companies have a strong local presence in Rochester, with Harris employing about 2200 people in its RF Communications division and Exelis around 1300 in its geospatial systems division. The Harris CEO told local federal officials previously that he did not anticipate the deal would mean any job loss in Rochester.
The companies also learned Friday that the federal government signed off on the merger. The deal is expected to close on May 29.
Exelis CEO David Melcher said that the vote on Friday shows that shareholders understand the deal means the two companies will be better positioned to compete more effectively and profitably in the global marketplace.