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Viasat expects Viasat Government Systems’ annual revenue to be approximately $700,000,000 after the sale of its Link 16 business.
Viasat is selling its Link 16 tactical data link business, an encrypted network used by the U.S. military and NATO allies to exchange data between ships, aircraft, and troops on land.
L3Harris Technologies (NYSE:LHX) has signed a definitive agreement to acquire Viasat, Inc.’s (NASDAQ: VSAT) Tactical Data Links product line for approximately $1.96 billion, subject to customary adjustments.
L3Harris Technologies will acquire Viasat’s Link 16 Tactical Data Links business and intends to integrate Link 16 to advance JADC2 and broaden multi-function, multi-domain mission solutions.
On 2022-10-03, L3Harris Technologies agreed to acquire Viasat’s tactical data link business for $1,960,000,000.
Since 2019, Viasat has been developing an experimental Link 16 satellite under a U.S. Air Force Research Laboratory contract.
Viasat intends to use the proceeds of the Link 16 Tactical Data Links sale to reduce net leverage and increase liquidity.
The sale of Viasat’s Link 16 Tactical Data Links business is expected to result in cash proceeds to Viasat of approximately $1,800,000,000 net after estimated taxes, fees, and other expenses.
After the $5,500,000,000 Inmarsat merger is finalized, Viasat expects its government business to generate about $1,000,000,000 in annual sales.
The cash acquisition of Viasat’s TDL product line will be funded with debt financing and includes a net present value of approximately $350,000,000 in tax benefits.
Viasat’s Link 16 business generates about $400,000,000 in annual sales, representing about 35% of Viasat’s Government Systems revenue.
Viasat plans to launch the first ViaSat-3 satellite later 2022.
Viasat Inc. (NASDAQ: VSAT) completed integration of the first ViaSat-3 satellite.
Boeing is providing its 702 satellite bus platform to house the payloads that Viasat developed for the ViaSat-3 constellation.
Viasat completed integration of the first ViaSat-3 satellite at Boeing’s El Segundo, California factory in preparation for environmental testing.
Each ViaSat-3 satellite will provide roughly three times the throughput of the Americas-focused ViaSat-2, which launched in 2017.
The third ViaSat-3 satellite, targeting the Asia Pacific region and slated to launch six months after the second, is in final payload tests at Viasat’s Tempe, Arizona, facility.
The ViaSat-3 satellite is one of three satellites in a constellation that Viasat is building with Boeing to provide global high-throughput Ka-band services.
SpaceX, Viasat, and Maxar supported Ukraine and allied forces by providing communications services and satellite imagery.
The European Commission stated 2022-07-27 that the Viasat-Inmarsat deal will require antitrust approval from the European Union before it can be completed.