Viasat (Nasdaq: VSAT ) has sought the help of an adviser as the communications equipment provider considers selling a unit that provides encryption tools to the government sector, Bloomberg reported Tuesday.
The estimated annual EBITDA of the encryption business stands at $120 million and the portfolio could be sold for $1.8 billion to potential buyers in private equity or the defense industry, according to the report.
Viasat maintains a suite of government-grade technology products designed to help customers secure classified communications.
Separately, British competition regulators began examining Viasat’s proposed $3.9 billion cash and shares deal agreement to acquire satellite communications company Inmarsat.
Shares of Viasat rose 2.3 percent to close Tuesday at $28.7.
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