Cloud Hosting

NEW YORK (AP) -- Harris Corp. plans to stop providing some cloud-computing hosting services and sell a Harrisburg, Va., data center facility, saying Monday that its government and commercial customers prefer keeping sensitive information themselves rather than storing it remotely.

The "cloud" offers customers computing power, software applications and data storage on servers located outside of their own properties.

Harris provides IT and communications services to the government and other customers. It said it still wants to provide customers advanced cyber security and cloud-enabled software applications and services.

The move means Harris will be ending its Cyber Integrated Solutions operations and will likely record a $70 million to $80 million after-tax charge in fiscal 2012.

Harris also said Monday that it is boosting its quarterly dividend by 18 percent to 33 cents per share from 28 cents per share. The dividend will be paid on March 16 to shareholders of record on March 7.

Shares of the company, based in Melbourne, Fla., rose 26 cents to $43.37 in afternoon trading.

Read the original:

Harris plans to stop offering remote cloud hosting