L3Harris Technologies has closed its acquisition of Aerojet Rocketdyne following the signing of a definitive agreement late last year.
The transaction’s completion created a fourth business unit within L3Harris, which intends to bolster the defense industrial base, create competition and support Aerojet Rocketdyne’s work to improve its offerings, the former announced from its Melbourne, Florida headquarters on Friday.
L3Harris Chair and CEO Christopher Kubasik, a three-time Wash100 Award winner, said he is “thrilled” about the integration of over 5,000 employees into the company’s team.
Ross Neibergall, who was selected to take on the president role for the Aerojet Rocketdyne business segment, commented that as part of L3Harris, the organization will build on its history of providing the “competitive environment that produces innovative, agile solutions” its customers have come to expect.
As a result of the acquisition, L3Harris’ portfolio now includes additional long-cycle backlog and expertise, offering the company more opportunities in missile defense systems, hypersonics and advanced rocket systems as well as other areas. The new business arm will be rebranded as Aerojet Rocketdyne, an L3Harris Technologies company.
“With national security at the forefront, we’re combining our resources and expertise with Aerojet Rocketdyne’s propulsion and energetics capabilities to ensure that the Department of Defense and civil space customers can address critical mission needs globally,” said Kubasik.
The deal — an all-cash transaction totaling $4.7 billion — was announced in December 2022.
In January, L3Harris completed its earlier acquisition of Link 16 (Viasat’s Tactical Data Links product line) for $1.96 billion. The transaction was announced in October 2022, when a definitive agreement was signed.