L3Harris completes $845M deal to sell majority stake in space unit

L3Harris Technologies completed the sale of a majority stake in its commercial space propulsion, power and electronics businesses to AE Industrial Partners at an enterprise value of $845 million. The deal is a strategic portfolio move that likely allows L3Harris to sharpen its focus on core defense and aerospace operations while unlocking capital for reinvestment. Management said it expects to use the proceeds to invest in the business, which may support balance sheet flexibility, growth initiatives, or higher-return areas. The transaction is generally constructive for the stock because it monetizes a non-core asset and could improve capital allocation, though the near-term market impact is likely limited unless the company provides more detail on planned use of funds.