Viasat Finalizes Inmarsat Acquisition
Viasat completed the acquisition of Inmarsat to enhance the scale of its satellite communication business.…
Viasat completed the acquisition of Inmarsat to enhance the scale of its satellite communication business.
At the closing of the transaction, Inmarsat’s shareholders received an aggregate of USD$551 million in cash, subject to adjustments, and approximately 46.36 million shares of common stock. Inmarsat has already paid a USD$299 million special dividend to its shareholders in April 2022.
As the industry becomes increasingly dynamic and competitive, the combination of assets will enhance innovation and meet the increasing demand of customers in the global satellite connectivity sector.
“The combination of our companies brings together the people, technology, innovation, network assets, spectrum resources and global partnerships needed to help connect the world more affordably, securely and reliably. Together, we believe we are positioned to offer customers a multi-layered network that gives them the right connectivity at the right time, place and price,” said Mark Dankberg, Chairman and CEO, Viasat.
As part of the acquisition, Rajeev Suri, Inmarsat CEO, and Andy Sukawaty, Inmarsat Chairman, will join the Viasat Board of Directors. Dankberg will lead the company with Guru Gowrappan as President.
Gowrappan said the combination is more than the sum of parts and will broaden the global fixed and mobile services available in an “industry-defining moment.”
The company’s global business sector will be headquartered in London, while the corporate headquarters will remain in Carlsbad, California.
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