L3Harris Technologies (NYSE:LHX) announced that it has closed the acquisition of Viasat's Tactical Data Link, or Link 16 business for $1.96 billion.

The business generated approximately $400 million in revenues and $125 million in adjusted EBITDA for the 12 months ended June 30, 2022. Analysts at RBC Capital view the acquisition as positive, and like the increased M&A focus considering the strong defense fundamentals. The analysts reiterated their Outperform rating and $268 price target on the company’s shares.