Harris Press Release


Harris Corporation Acquires Audio Broadcast Group, Inc.

CINCINNATI, Ohio, Dec. 1, 1999 - Harris Corporation today announced the acquisition of Audio Broadcast Group, Inc. (ABG), a privately held supplier of products and systems to the U.S. broadcast and recording markets. Terms of the acquisition were not disclosed.

ABG becomes part of Harris' Broadcast Communications Division, headquartered in Mason, Ohio.

According to James Woods, vice president of the Broadcast Communications Division's Radio Systems Business, Harris will retain the majority of ABG sales and support staff and absorb ABG's Grand Rapids, Michigan headquarters into its Mason operation. The acquisition will enable Harris to expand field sales and support capabilities that have become increasingly important to radio broadcasters by combining two of the industry's leading distribution organizations. With the addition of ABG's field offices in North Carolina, South Carolina, California as well as the addition of key inside sales people and sales management, Harris expands the sales and support resources for these key markets. ABG's products and services (including systems) will now be available from Harris.

"This acquisition is about people," Woods said. "ABG's superb staff is a natural fit in our organization - a fit that will enable us to respond even more effectively to our customers' needs as they face the demands of unprecedented consolidation and the transition from analog to digital technology. In today's environment of rampant change, broadcasters are looking for more than equipment suppliers: They are seeking partners who can help them define future-ready solutions that make the most sense for their organizations in terms of cost and functionality."

Harris' acquisition of ABG follows the decision of Phyllis Freeman, CEO, president and majority owner, to retire. "When I decided to retire, I wanted to make certain our staff was in the best possible hands for the long term," Ms. Freeman said. "They have worked hard to achieve their status as exceptional sales people and will now have the opportunity to continue serving their customers' needs. Excellent staff and wonderful customers have made ABG what it is today. My thanks to our staff, customers, and manufacturers for making my 30-year career in broadcast extremely enjoyable."

Harris Broadcast Communications is the leading supplier of radio and television products, systems, and services, serving broadcasters around the world.

Harris Corporation (NYSE:HRS) is an international communications equipment company focused on providing product, system, and service solutions that take its customers to the next level. The company provides a wide range of products and services for commercial and government communications markets such as wireless, broadcast, government, and network support. The company has sales and service facilities in nearly 90 countries.

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