Viasat Selling Part of Government Systems Business to L3Harris

Viasat will sell its Link 16 Tactical Data Links business, which is part of its Government Systems segment, to defense contractor L3Harris Technologies for $1.96 billion, Viasat said Monday. Viasat said the TDL deal is expected to close in the first half of 2023, and said it received approval for the sale from Inmarsat's equity sponsors. Viasat CEO Mark Dankberg said the sale "will transform our balance sheet, reduce cash interest obligations, and sharpen strategic focus." He said its ViaSat-3 constellation and planned Inmarsat acquisition "both create greater forward-looking government systems growth opportunities in space-based businesses with more R&D, capital and operational synergies."