Viasat Inc. (NASDAQ: VSAT), a worldwide chief in satellite tv for pc communications, accomplished the sale of its Hyperlink 16 Tactical Knowledge Hyperlinks (TDL) enterprise to L3Harris Applied sciences (NYSE: LHX) for about $1.96 billion in money.
The online proceeds to Viasat are anticipated to be roughly $1.8 billion after estimated taxes, charges and different bills. Viasat intends to make use of the proceeds to cut back internet leverage and enhance liquidity.
The Hyperlink 16 TDL enterprise had roughly $400 million of income and an estimated $125 million of Adjusted EBITDA for the 12 months ended June 30, 2022, when burdened by the estimated quantity of allocable overhead and company bills anticipated roughly one yr after closing.
“We thank the staff who transferred to L3Harris because of right now’s closing. We enormously admire their contribution to Viasat,” stated Mark Dankberg, CEO and Chairman, Viasat.
“Finishing the sale of the Hyperlink 16 TDL enterprise to L3Harris helps our transition in the direction of a larger give attention to international satellite tv for pc companies. It additionally strengthens our steadiness sheet, and reduces internet debt and curiosity expense – supporting our path to optimistic free money circulate.”
Viasat is constructing an built-in satellite tv for pc companies platform for international cell and glued business and authorities markets. Finishing the transaction helps this focus. Viasat’s Authorities Programs section will construct on three important areas:
+ broadband and narrowband satcom companies and related hybrid community expertise;
+ data assurance and cybersecurity;
+ and an rising portfolio of space-based expertise and companies, together with LEO to GEO relay, networks for a variety of earth statement and sensor techniques, different place, navigation and timing (PNT), and area situational consciousness.
J.P. Morgan Securities LLC served as lead monetary advisor and PJT Companions served as monetary advisor to Viasat. Latham and Watkins LLP serves as authorized advisor to Viasat.
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Viasat awarded 5 year $325M IDIQ contract by US Special Operations Command
Carlsbad CA (SPX) Jan 01, 2023
Viasat Inc. (NASDAQ: VSAT) has been awarded an indefinite supply, indefinite amount (IDIQ) contract award value as much as $325 million over a five-year interval to help the U.S. Particular Operations Command (SOCOM). This sole-source IDIQ is an extension of a $350 million IDIQ contract awarded to Viasat in 2017.
Below the contract award, Viasat will proceed to offer superior mission tools, companies and help to maintain and enhance situational consciousness, integration, terrestrial networking, … read more
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