in ,

L3Harris to Acquire 7.2% Stake in Laser Comm Tech Maker Mynaric; Daniel Gittsovich Quoted

L3Harris to Acquire 7.2% Stake in Laser Comm Tech Maker Mynaric; Daniel Gittsovich Quoted - top government contractors - best government contracting event

L3Harris Technologies will acquire an initial 7.2 percent stake in laser communications equipment supplier Mynaric as part of an $11.4 million investment deal.

Under the agreement, L3Harris will obtain 409,294 of the Munich-based company’s bearer stock for approximately $27.90 each share and also gain access to select testing platforms such as a satellite link emulator, according to a joint statement released Tuesday.

Mynaric has a laboratory in Los Angeles that includes equipment designed to mimic space environments and allows industry participants in the Defense Advanced Research Projects Agency’s Blackjack satellite program to perform interoperability tests.

Daniel Gittsovich, vice president of corporate strategy and development at L3Harris, said the partnership seeks to help customers address bandwidth and connectivity requirements across multiple domains with laser communications technology.

The two companies previously collaborated to demonstrate airborne applications of the Mynaric-built Hawk optical communications terminal.

ExecutiveBiz Logo

Sign Up Now! ExecutiveBiz provides you with Daily Updates and News Briefings about M&A Activity

mm

Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

Redhorse’s John Zangardi on New Governing Body Within DOD’s Chief Digital and AI Office - top government contractors - best government contracting event
Redhorse’s John Zangardi on New Governing Body Within DOD’s Chief Digital and AI Office
NIST Chooses 4 Algorithms for Inclusion in Post-Quantum Cryptographic Standard - top government contractors - best government contracting event
NIST Chooses 4 Algorithms for Inclusion in Post-Quantum Cryptographic Standard