Viasat to buy Inmarsat
The November 8 press release said the deal is comprised of US$850 million in cash and approximately 46.4 million shares of Viasat common stock valued at US$3.1 billion. Viasat will also assume US$3.4 billion of net debt in the transaction.
“Together, we can advance broadband communications and create new hybrid space and terrestrial networks that drive greater performance, coverage, speed, reliability, and value for customers. We look forward to welcoming the Inmarsat team into the Viasat family,” said Viasat’s Executive Chairman Mark Dankberg in the release.
The combined company plans to offer:
- A broad portfolio of spectrum licenses across the Ka-, L- and S-bands and a fleet of 19 satellites in service with an additional 10 spacecraft under construction and planned for launch within the next three years.
- A global Ka-band footprint, including planned polar coverage, to support bandwidth-intensive applications, augmented by L-band assets that support all-weather resilience and highly reliable, narrowband, and IoT connectivity.
- The ability to unlock greater value from Inmarsat’s L-band spectrum and existing space assets by incorporating Viasat’s state-of-the-art beamforming, end-user terminal, and payload technologies and its hybrid multi-orbit space-terrestrial networking capabilities.
- Viasat’s vertically-integrated technology and service offerings, along with Inmarsat’s extensive eco-system of technology, manufacturing, and service distribution.
The combined company intends to integrate the spectrum, satellite, and terrestrial assets of both companies into a global high-capacity hybrid space and terrestrial network, capable of delivering superior services in fast-growing commercial and government sectors.
“Joining with Viasat is the right combination for Inmarsat at the right time,” said Rajeev Suri, CEO of Inmarsat. “Viasat is a terrific innovator and Inmarsat brings some powerful additions: global reach, a broad distribution channel, robust business momentum, and a presence in highly attractive global mobility segments. Together, the two companies will create a new global player with the scale and scope to help shape the future of a dynamic and growing industry.”