Report: Viasat Mulls Encryption Tech Portfolio Sale

Viasat (Nasdaq: VSAT) has enlisted the help of an adviser as the communications equipment provider considers selling a unit that offers encryption tools to the government sector, Bloomberg reported Tuesday.

The encryption business’ estimated annual EBITDA stands at $120 million and the portfolio could sell for $1.8 billion from potential buyers in the private equity or defense industry, according to the report.

Viasat maintains a government-grade technology product suite designed to help customers secure classified communications.

Separately, British competition regulators began reviewing Viasat’s proposed $3.9 billion cash-and-stock deal to acquire satellite communications company Inmarsat.

Shares of Viasat climbed 2.3 percent to close Tuesday at $28.7.

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