Viasat to Sell Its Link 16 Tactical Data Links Business to L3Harris Technologies for $1.96 Billion
CARLSBAD, Calif., Oct. 3, 2022 /PRNewswire/ -- Viasat Inc. (NASDAQ: VSAT), a global leader in satellite communications, today announced it has entered into a definitive agreement to sell its Link 16 Tactical Data Links (TDL) business to L3Harris Technologies for $1.96 billion, subject to customary transaction adjustments in accordance with the agreement. The sale is expected to result in cash proceeds to Viasat of approximately $1.8 billion net after estimated taxes, fees, and other expenses.
- Viasat's Link 16 Tactical Data Link business is part of its Government Systems segment.
- The sale of the business includes the Multifunctional Information Distribution System (MIDS) platforms and associated next-generation Link 16 terminals and handheld radios, as well as the Link 16 to space business.
- The Link 16 Tactical Data Links business has been an important contributor to Viasat's growth and earnings and the transaction recognizes the value created by our outstanding team.
- L3Harris has been a long-time Link 16 strategic partner and has a portfolio that will benefit significantly from these capabilities.