Remember earlier this year when The Gores Group acquired ELO Touch Solutions for $380 million?

Now The Gores Group will buy the Broadcast Communications division of Harris Corporation for $225 million. The price includes $160 million in cash at closing, a $15 million subordinated promissory note and an earn-out of up to $50 million based on future performance. The transaction, expected to be completed in early calendar year 2013, is subject to customary regulatory review (and closing conditions).

“The sale of Broadcast Communications reflects our strategy to optimize our business portfolio and focus on our core businesses,” says William M. Brown, president and CEO of Harris.

The Broadcast Communications group of Harris holds far more than Digital Signage, but Harris is a significant DOOH player helping companies like 7-Eleven TV across 4344 stores.

The Harris Broadcast division will retain the Harris name for another three years while it transitions to a new brand. No products or product lines are being targeted for discontinuation. In broadcasting, the latest Versio release — introduced at IBC — is on track to ship this month. A major product announcement in the workflow, infrastructure and networking space, or WIN, is in the works.

Accounting at Harris broke out $447.6 million as a write-down for Harris Broadcast Communications in its last fiscal.

“In Harris Broadcast Communications, we are investing in a proven technology leader with great products and a great team. We are excited to provide the capital and support to transition this division to a strong and independent company further enabling it to continue developing and delivering market leading technologies to its customers,” says Ryan Wald, managing director of The Gores Group.

Headquartered in Los Angeles, The Gores Group, LLC is a global investment firm with approximately $3.3 billion in assets under management. The Gores Group portfolio ranges from textiles to technology, including Siemens Enterprise Communications, Equinox payment terminals, ELO Touch Solutions and others.

You can find the Gores Group here: http://www.gores.com/