Communication-equipment maker Harris Corp. said Friday it completed its $525 million acquisition of satellite provider CapRock Communications.
The deal was first announced in May. Harris said the deal expands its international presence and customer base.
Private equity firm ABRY Partners was the majority owner of CapRock.
CapRock had 2009 operating income of $28 million on revenue of $359 million, according to Harris. Some of the Houston-based company's biggest clients include Chevron, Diamond Offshore, ExxonMobil, Halliburton and the U.S. Defense Department.
CapRock Communications CEO Peter Shaper will serve as president of the business, which will operate as separate unit of Harris Corp.
Harris has said the acquisition will begin to benefit its earnings in fiscal 2011, excluding acquisition-related charges, and become a more significant earnings contributor in fiscal 2012.
Harris shares fell 68 cents to $44.53 on Friday. The stock has traded between $29.38 to $54.50 during the past 52 weeks.