January 3, 2023 – Viasat Inc. completed the sale of its Link 16 Tactical Data Links (TDL) business to L3Harris Technologies for approximately $1.96 billion in cash. The net proceeds to Viasat are expected to be approximately $1.8 billion after estimated taxes, fees and other expenses. Viasat intends to use the proceeds to reduce net leverage and increase liquidity. The Link 16 TDL business had approximately $400 million of revenue and an estimated $125 million of Adjusted EBITDA for the 12 months ended June 30, 2022, when burdened by the estimated amount of allocable overhead and corporate expenses expected approximately one year after closing.