L3Harris Technologies has successfully completed the purchase of ViaSat’s Link 16 Tactical Data Links (TDL) business for approximately $1.96bn.
The cash acquisition is still subject to customary adjustments.
Last month, L3Harris announced the receipt of US and allied partner regulatory approvals for the deal.
L3Harris CEO and chair Christopher Kubasik said: “We are in position to close this acquisition much earlier than expected, which means we can welcome our new employees and begin work even earlier on this important modernisation effort.
“The team is excited to deliver advanced tactical data links for this broadly used network, which will give our warfighters distinct advantages in multiple domains.”
Commonly known as Link 16, the TDL product line is part of Viasat’s Government Systems segment.
Viasat CEO and chairman Mark Dankberg said: “We thank the employees who transferred to L3Harris as a result of today’s closing. We greatly appreciate their contribution to Viasat.
“Completing the sale of the Link 16 TDL business to L3Harris supports our transition towards a greater focus on global satellite services. It also strengthens our balance sheet and reduces net debt and interest expense, supporting our path to positive free cash flow.”
JP Morgan Securities and PJT Partners have acted as lead financial advisor and financial advisor to Viasat, which also received legal advice from Latham & Watkins.