L3Harris Completes Link 16 Acquisition

Rhea-AI Summary

L3Harris Technologies (NYSE: LHX) has completed the acquisition of Viasat Inc.'s (NASDAQ: VSAT) Tactical Data Links product line, known as Link 16, for $1.96 billion. This acquisition is expected to enhance L3Harris's capabilities in resilient communication and networking, broadening their user base across multiple domains. The deal, originally announced in October 2022, received all necessary regulatory approvals by December 2022.

Positive

• Acquisition value of $1.96 billion enhances L3Harris's product offerings.
• Expansion of resilient communication and networking capabilities.
• Broadening user base across multiple domains.

Negative

• None.

MELBOURNE, Fla.--(BUSINESS WIRE)-- L3Harris Technologies (NYSE: LHX) today announced closing its acquisition of Viasat Inc.’s (NASDAQ: VSAT) Tactical Data Links product line – commonly known as Link 16 – for approximately $1.96 billion, subject to customary adjustments.

Acquiring the Link 16 tactical data link product line will allow L3Harris to expand resilient communication and networking capabilities to a larger user base across multiple domains. (Photo: Business Wire)

The company announced the signing of a definitive agreement to acquire the TDL network in October 2022 and secured U.S. and allied partner regulatory approvals in December.

About L3Harris Technologies

L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced technologies across space, air, land, sea and cyber domains.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230103005143/en/

Paul Swiergosz

Corporate

Paul.Swiergosz@L3Harris.com

321-378-5631

Source: L3Harris Technologies

FAQ

What is the significance of L3Harris acquiring Viasat's Tactical Data Links product line?

The acquisition expands L3Harris's capabilities in resilient communications and networking, aiming to reach a broader user base.

When did L3Harris acquire Viasat's Tactical Data Links business?

The acquisition was completed in early 2023, following an announcement in October 2022.

What was the acquisition price of Viasat’s Tactical Data Links product line?

L3Harris acquired it for approximately $1.96 billion.

What regulatory approvals were needed for L3Harris's acquisition?

L3Harris secured all necessary U.S. and allied partner regulatory approvals by December 2022.