Welcome to our dedicated page for Viasat news (Ticker: VSAT), a resource for investors and traders seeking the latest updates and insights on Viasat stock.
Viasat Inc (NASDAQ: VSAT) is a global communications company focused on satellite communications, with activity spanning government SATCOM, mobility services, maritime connectivity, business aviation and emerging direct-to-device satellite services. The Viasat news feed on this page aggregates company announcements, press releases and other coverage so readers can follow how the business and its satellite network evolve over time.
Recent news from Viasat highlights developments in its integrated Ka-band network for government users, including a unified global Ka-band satellite communications network that combines Viasat satellites, the Global Xpress fleet and partner satellites. The company has also announced services such as Enhanced LAISR, an on-demand managed L-band service designed to support government airborne, maritime and land users with beyond line-of-sight connectivity.
Viasat’s news flow also covers its aviation and maritime offerings. Announcements have described Viasat Amara, a next-generation in-flight connectivity solution adopted by airlines, and NexusWave, a bonded multi-network service from Inmarsat Maritime, a Viasat company, that supports digitalization and crew welfare at sea. Additional updates include agreements with airlines and shipping companies to deploy these connectivity solutions across fleets.
Beyond transport markets, Viasat reports on its HaloNet and InRange services for launch telemetry and near-Earth space communications, as well as research on direct-to-device satellite connectivity for mobile users. Corporate governance and capital markets items, such as board appointments, equity plan changes and financial results releases, are also reported through company news and SEC filings.
Investors and followers of VSAT stock can use this news page to monitor product announcements, network expansions, customer agreements, research publications and governance updates that Viasat discloses through official channels.
Viasat Inc. (NASDAQ: VSAT) has received a Validation of Supplemental Type Certificate (VSTC) from CAAC for its Ka-band satellite connectivity system, applicable to the Boeing 737 series. This follows prior certification for the A320 series and enables Viasat to equip over 75 percent of aircraft in China. Currently serving 18 airline customers globally, Viasat's system aims to enhance in-flight connectivity with features like video streaming and social media access. Sichuan Airlines is the first in China to implement this service, which has potential revenue benefits for airlines.
Viasat has successfully completed the sale of its Link 16 Tactical Data Links business to L3Harris Technologies for approximately $1.96 billion in cash. The expected net proceeds for Viasat are around $1.8 billion after taxes and fees. This divestiture aligns with Viasat's strategy to focus on global satellite services and supports the reduction of net debt and interest expenses, progressing towards positive free cash flow. The Link 16 TDL business generated about $400 million in revenue and $125 million in Adjusted EBITDA for the year ending June 30, 2022.
L3Harris Technologies (NYSE: LHX) has completed the acquisition of Viasat Inc.'s (NASDAQ: VSAT) Tactical Data Links product line, known as Link 16, for $1.96 billion. This acquisition is expected to enhance L3Harris's capabilities in resilient communication and networking, broadening their user base across multiple domains. The deal, originally announced in October 2022, received all necessary regulatory approvals by December 2022.
Viasat has been awarded a sole-source IDIQ contract worth up to $325 million over five years to support the U.S. Special Operations Command (SOCOM). This extends a previous contract valued at $350 million from 2017. The contract focuses on providing advanced communication services, enhancing situational awareness and operational capabilities for SOCOM. Viasat emphasizes its commitment to addressing the evolving needs of military forces in complex missions.
Viasat has received FAA approval for its Ka-band In-flight Connectivity (IFC) system for Gulfstream G450 aircraft, enhancing connectivity for over 300 aircraft in the market. This system supports video streaming, conferencing, and business applications during flights. Viasat's reliable network covers over 90% of business aviation routes, and service plans start at $9,995/month for uncapped data. The Ka-band system will also be compatible with Viasat's upcoming ViaSat-3 constellation, promising higher capacity broadband connectivity.
Sichuan Airlines has partnered with Viasat (NASDAQ: VSAT) and AeroSat Link to implement Viasat's In-Flight Connectivity (IFC) technology on its Airbus A320 fleet. This collaboration aims to provide passengers with high-speed internet access through China Satcom's Ka-band satellite network, enhancing the onboard digital experience. With the aviation sector in China rapidly growing, the initiative aligns with the demand for internet-enabled devices during flights. Viasat's technology promises to deliver performance comparable to ground services, positioning Sichuan Airlines as a leader in in-flight connectivity.
On December 14, 2022, Microsoft (NASDAQ: MSFT) and Viasat (NASDAQ: VSAT) announced a partnership aimed at expanding internet access globally, particularly serving 10 million people, including 5 million across Africa, by the end of 2025. This collaboration, part of Microsoft's Airband Initiative, seeks to deliver connectivity to underserved areas in countries like the Democratic Republic of the Congo, Nigeria, and Mexico. The initiative's goal includes providing internet access to a total of 250 million people worldwide by 2025, emphasizing digital equity and economic opportunity.
Granite Telecommunications has renewed its partnership with Viasat (NASDAQ: VSAT) to provide satellite-based internet service across the U.S. This collaboration aims to enhance broadband access, especially in underserved areas, catering to businesses and government agencies. Granite, a $1.8 billion company, serves over 650,000 locations, including two-thirds of Fortune 100 companies. Viasat's high-speed internet can be installed in 3-5 days, ensuring quick service for critical applications. Both companies highlight their commitment to bridging the digital divide.
On November 28, 2022, Viasat announced the successful completion of the Final Integrated Satellite Test (FIST) for its ViaSat-3 Americas satellite, confirming its readiness for launch. Following several rigorous testing phases simulating launch conditions, the satellite demonstrated its functionality and durability. The project aims to enhance global satellite coverage, with a focus on high bandwidth economics and flexibility. The ViaSat-3 constellation will include additional satellites for EMEA and Asia Pacific, further expanding Viasat's service capabilities.
Viasat announces a contract with Intellian to design bespoke Ka-band user terminals for Viasat's Maritime connectivity solution. This includes a 100cm upgrade kit for the popular NX Series, enhancing connectivity for thousands of vessels. The new terminals integrate advanced satellite modem technology, ensuring reliable access to Viasat's network, including the soon-to-be-launched ViaSat-3 satellites. This partnership aims to provide improved connectivity options for maritime customers. Viasat's CEO emphasized the mutual benefits of this collaboration for enhancing satellite connectivity.