Connect with us

Hi, what are you looking for?


L3Harris announces an acquisition: ‘huge win for the warfighter’

L3Harris Technologies Inc (NYSE: LHX) is buying “Link 16” from Viasat Inc (NASDAQ: VSAT) for $1.96 billion to capitalise on increased U.S. spending on “defense”.

CEO Kubasik’s remarks on CNBC

TDL – the Tactical Data Links business had roughly $400 million in revenue last year. Discussing the acquisition on CNBC’s “Squawk on the Street”, Chris Kubasik – the Chief Executive of L3Harris Technologies said:

It’s a huge win for the warfighter. Our employees are excited, and shareholders are reacting positively. Our customers want to be able to connect satellites to aeroplanes, ships, solider on the edge. This technology enables L3Harris to do that.

Shares of the defense company that has secured about $4.0 billion worth of government contracts in recent months have gained more than 7.0% in two days.

L3Harris plans on funding this deal with debt financing, as per the press release.

Viasat to lower debt and increase liquidity

The definitive agreement is subject to customary closing conditions, including regulatory clearance. But CEO Kubasik is convinced the latter will not be an issue.

This is creating more competition which is what the Department of Defense needs. Our ability to make acquisitions will allow us to be a solid 6th prime, thereby competing with the big five; double or sometimes triple our size.

The deal, Viasat expects, will result in $1.80 billion of cash proceeds (post taxes, fees, and other expenses) that it plans on using to minimise debt and boost liquidity.

Shares of the communications company that reported a narrower-than-expected loss for its fiscal Q1 last month are up more than 30% this week (so far).

The post L3Harris announces an acquisition: ‘huge win for the warfighter’ appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Solana (SOL/USD) is enormously underrated as a cryptocurrency project, even with its hiccups – including the latest exploit on one of the ecosystem apps....

    Editor's Pick

    The new eSIM infrastructure will help modernise the IoT connectivity market with fast, secure connections and reduced vendor lock-in. 1oT, a tech startup from...


    The latest Job Openings and Labor Turnover Survey from the Bureau of Labor Statistics shows the total number of job openings in the economy...


    U.S. District Court Judge Reed O’Connor recently ruled to uphold the rights of employers granted in the Religious Freedom Restoration Act, rather than uphold...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023