Viasat has announced their purchase of Inmarsat in a $7.3 billion deal.
In a joint statement, the companies stated the deal will help gain enhanced scale and scope to deliver affordable and secure connectivity around the world.
The new company is set to deliver:
“advanced new services” in mobile and fixed segments, “driving greater customer choice in broadband communications and narrowband services” including IoT.
as well as offerings of spectrum licenses across the Ka-, L- and S-bands.
Inmarsat is currently working with BSNL in India to deliver the mobile broadband services to customers across government, aviation and maritime sectors.
In addition, Inmarsat has combined its existing systems with a Low Earth Orbit (LEO) constellation and 5G assets to create a single network targeting corporate customers.
Inmarsat CEO Rajeev Suri noted the acquisition by Viasat as it is expected to create “a strong future” for Inmarsat while offering “greater choice for customers around the world, enhanced scope for partners and new opportunities for employees”.
The transaction is expected to close in the second half of 2022.
The deal comprises $850 million in cash, about 46.4 million shares of Viasat valued at roughly $3.1 billion and the assumption of Inmarsat’s $3.4 billion net debt.
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