Viasat takes control of Inmarsat
California-based Viasat has made official its acquisition of London-based satellite communications specialist Inmarsat. The transaction for the takeover of the industry pioneer in the yachting and maritime field is estimated at $7.3 billion. It consists of $850 million in cash, $3.1 billion in Viasat shares and the assumption of $3.4 billion in debt.
Creation of a leader in satellite communication
Through this combination, the two companies will strengthen their positions in satellite communications by sharing their technological know-how and infrastructure, such as satellite galaxies. The company will now have a large portfolio of Ka, L and S frequency licenses, as well as 19 satellites, with 10 additional spacecraft under construction in the next 2 years.
"Inmarsat's global dual-band mobile network, its unique L-band resources, talent and capabilities in the UK, and technical and operational talent around the world, are powerful complements to Viasat's business. Together, we can advance broadband communications and create hybrid terrestrial and space networks to bring better performance, coverage, speed, reliability and value to our customers. We look forward to welcoming the Inmarsat team to the Viasat family," said Mark Dankberg, executive chairman of Viasat.
