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carlsbad, california, January 3, 2023 /PRNewswire/ — Viasat Inc. (NASDAQ: VSAT), a global leader in satellite communications, has completed the sale of its Link 16 Tactical Data Links (TDL) business to L3Harris Technologies (NYSE: LHX). $1.96 billion In cash. Net proceeds to Viasat are approximately $1.8 billion After estimating taxes, fees and other charges. Viasat intends to use the proceeds to reduce net leverage and increase liquidity.
Link 16 TDL business is approximately $400 million Earnings and estimates $125 million Adjusted EBITDA for the ended 12 months June 30, 2022when burdened by estimated allocatable overheads and corporate expenses expected approximately one year after closing.
“We would like to thank our employees who have relocated to L3Harris as a result of today’s closure and thank them for their contributions to Viasat,” he said. Mark Dunkberg, CEO and Chairman of Biasat. “The completion of the sale of the Link 16 TDL business to L3Harris supports our shift toward a greater focus on global satellite services, while strengthening our balance sheet and reducing net debt and interest expense. , supporting the path to positive free cash flow.”
Viasat builds an integrated satellite services platform for the global mobile and fixed commercial and government markets. Completing a transaction supports this focus. Viasat’s Government Systems segment will build on his three main areas of broadband and narrowband satellite communications services and related hybrid network technologies. Information Assurance and Cyber Security. A new portfolio of space-based technologies and services, including LEO-to-GEO relays, networks of various earth observation and sensor systems, alternative position, navigation and timing (PNT), and space situational awareness.
JP Morgan Securities LLC acted as lead financial advisor and PJT Partners acted as financial advisor to Viasat. Latham & Watkins LLP is acting as legal advisor to Viasat.
Forward-Looking Statements
This press release contains forward-looking statements regarding future events and our future results that are subject to safe harbors made under the Securities Act of 1933 and the Securities Exchange Act of 1934. increase. Estimated net value and use of proceeds from his sale of the Link 16 Tactical Data Links business to L3Harris (the “Link 16 TDL Sale”). reduction of net debt; future strategy and financial performance; and other characterizations of future events or circumstances. Readers are cautioned that these forward-looking statements are predictions only and are subject to risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ materially and adversely include: Changes in the global business environment and economic conditions. Ability to successfully develop, introduce and market new products and enhancements. Link 16 Changes in relationships with key customers, suppliers, distributors, resellers and others as a result of TDL sales. and other factors affecting the telecommunications industry in general. In addition, please refer to the risk factors contained in our SEC filings available at www.sec.gov, including our most recent annual report on Form 10-K and quarterly report on Form 10-Q. Readers are cautioned not to place undue reliance on forward-looking statements. These statements speak only as of the date they were made. We undertake no obligation to revise or update any forward-looking statements for any reason.
About Biasat
Viasat is a global communications company that believes in connecting everyone and everything in the world. For over 35 years, Viasat has helped shape the way consumers, businesses, governments and the military communicate around the world. Today, we are developing the ultimate global communications network, delivering high-quality, secure, affordable, high-speed connectivity that impacts people’s lives wherever they are on the ground, in the air, or at sea. For more information about Viasat, visit www.viasat.com, visit Viasat’s corporate blog, or follow the company on social media on Facebook, Instagram and LinkedIn. twitter Or YouTube.
Copyright © 2023 Viasat, Inc. All rights reserved. Viasat, the Viasat logo, and the Viasat signal are registered trademarks of Viasat, Inc. All other product or company names mentioned are used for identification purposes only and may be trademarks of their respective owners.
Source: Biasat Co., Ltd.
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