Tampa lands military training business in $1 billion deal
March 1, 2021 - L3Harris Technologies is selling two business units, and Tampa will be the beneficiary in one of the deals. CAE is buying L3Harris' military training business for $1.05 billion. The military training business has annual revenue of $500 million, a news release said. After the deal closes, the L3Harris military training business will operate under CAE USA, headquartered in Tampa. Separately, L3Harris said it would sell its combat propulsion systems, which manufacture military engines and transmissions, to RENK AG, for $400 million. That business has annual revenue of $230 million. L3Harris (NYSE: LHX) is based in Melbourne, Florida and has its commercial aviation solutions headquarters in St. Petersburg.