Viasat Completes Sale of Hyperlink 16 Tactical Knowledge Inbound links Organization to L3Harris Systems for $1.96 Billion

CARLSBAD, Calif., Jan. 3, 2023 /PRNewswire/ — Viasat Inc. (NASDAQ: VSAT), a world leader in satellite communications, finished the sale of its Url 16 Tactical Data Inbound links (TDL) business enterprise to L3Harris Systems (NYSE: LHX) for close to $1.96 billion in cash. The web proceeds to Viasat are expected to be approximately $1.8 billion right after estimated taxes, expenses and other charges. Viasat intends to use the proceeds to lower web leverage and raise liquidity.   

The Url 16 TDL small business experienced approximately $400 million of revenue and an believed $125 million of Altered EBITDA for the 12 months finished June 30, 2022, when burdened by the believed volume of allocable overhead and corporate expenditures expected somewhere around just one 12 months after closing.

“We thank the workforce who transferred to L3Harris as a result of modern closing. We significantly recognize their contribution to Viasat,” reported Mark Dankberg, CEO and Chairman, Viasat. “Finishing the sale of the Link 16 TDL business enterprise to L3Harris supports our changeover to a bigger emphasis on worldwide satellite products and services. It also strengthens our harmony sheet, and lessens web debt and interest cost – supporting our route to positive absolutely free dollars movement.”

Viasat is building an built-in satellite products and services platform for global mobile and set industrial and federal government marketplaces. Completing the transaction supports this concentrate. Viasat’s Authorities Programs section will construct on a few principal parts: broadband and narrowband satcom expert services and connected hybrid network technology facts assurance and cybersecurity and an rising portfolio of place-based mostly technology and companies, including LEO to GEO relay, networks for a variety of earth observation and sensor units, choice posture, navigation and timing (PNT), and area situational consciousness.

J.P. Morgan Securities LLC served as lead fiscal advisor and PJT Companions served as economical advisor to Viasat. Latham & Watkins LLP serves as legal advisor to Viasat.

Forward-On the lookout Statements

This press release consists of forward-seeking statements about foreseeable future events and our foreseeable future outcomes that are subject to the safe and sound harbors produced under the Securities Act of 1933 and the Securities Exchange Act of 1934. Ahead-hunting statements contain, among other individuals, statements that refer to the approximated web quantity and use of proceeds from the divestiture of our Url 16 Tactical Information One-way links company to L3Harris (referred to herein as the “Connection 16 TDL sale”) reduction in internet debt long term system and economical general performance and other characterizations of long run functions or conditions. Viewers are cautioned that these ahead-on the lookout statements are only predictions and are matter to risks, uncertainties and assumptions that are tricky to forecast. Elements that could induce real outcomes to differ materially and adversely involve: the ability to assure functionality and marketplace growth of Viasat’s continuing business adjustments in the world organization surroundings and economic circumstances the skill to successfully build, introduce, and provide new goods and enhancements modifications in associations with essential clients, suppliers, distributors, resellers, and some others as a final result of the Connection 16 TDL sale and other elements influencing the communications sector frequently. In addition, please refer to the danger components contained in our SEC filings obtainable at www.sec.gov, such as our most current Annual Report on Sort 10-K and Quarterly Studies on Kind 10-Q. Readers are cautioned not to put undue reliance on any forward-seeking statements, which communicate only as of the day on which they are created. We undertake no obligation to revise or update any ahead-on the lookout statements for any cause.

About Viasat

Viasat is a world-wide communications corporation that believes everyone and anything in the planet can be linked. For more than 35 a long time, Viasat has served form how customers, enterprises, governments and militaries all over the environment talk. Now, the Business is building the supreme global communications network to power higher-quality, secure, economical, quickly connections to impression people’s life everywhere they are—on the ground, in the air or at sea. To learn more about Viasat, visit: www.viasat.com, go to Viasat’s Corporate Weblog, or observe the Business on social media at: Facebook, Instagram, LinkedIn, Twitter or YouTube.

Copyright © 2023 Viasat, Inc. All rights reserved. Viasat, the Viasat brand and the Viasat signal are registered trademarks of Viasat, Inc. All other item or enterprise names described are utilized for identification purposes only and may well be logos of their respective house owners.

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