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. reports developments across satellite communications, broadband connectivity, commercial mobility services and defense networking technologies. Company news commonly covers the ViaSat-3 satellite program, multi-orbit network expansion, in-flight connectivity platforms such as Viasat AMARA and Viasat AERA, and customer or technology collaborations in aviation, automotive and government communications markets.
Updates also include Defense and Advanced Technologies products such as Viasat Tactical Mission Fabric, secure edge-to-cloud networking, cybersecurity, tactical gateways, modems and waveform capabilities. Governance news has included board appointments, strategic review activity and cooperation agreements tied to shareholder engagement.
Viasat Inc. (NASDAQ: VSAT) announced that its in-flight connectivity (IFC) solution will be installed on over 1,000 Delta Air Lines aircraft, including widebody models such as Airbus A330 and A350. Delta's fast, free Wi-Fi service began on February 1, 2023, and the company is on track to equip more than 700 aircraft by year-end 2023. Viasat's Ka-band IFC system will enhance connectivity, supported by the forthcoming ViaSat-3 satellite constellation, which promises over 1 Terabit per second throughput capacity. This collaboration aims to enhance passenger experience with high-quality in-flight Wi-Fi, particularly during peak demand.
Viasat has launched its Trusted Cybersecurity Services (TCS), a new intrusion detection solution utilizing classified threat intelligence from the U.S. Department of Homeland Security. This service aims to enhance protections for private businesses and critical infrastructure by detecting threats up to six months ahead of other commercial services. Key features include leveraging CISA's threat intelligence and Viasat's own Cybersecurity Operations Center (CSOC). Viasat is the only company authorized by DHS to provide this service, which is expected to bolster cyber defenses amidst increasing cyber threats targeting U.S. organizations.
Viasat Inc. (NASDAQ: VSAT) reported its third quarter fiscal year 2023 financial results on February 7, 2023. The company continues to focus on enhancing its satellite communications infrastructure to support global connectivity. A conference call was held on the same day to discuss these results in detail, emphasizing Viasat's commitment to innovation and expanding services to consumers, businesses, and governments worldwide. The quarter's performance and future outlook will be analyzed, outlining key metrics of importance to investors.
Viasat Inc. (NASDAQ: VSAT) will release its third quarter fiscal year 2023 financial results on February 7, 2023, after market close. This will be followed by a conference call at 2:00 PM PT / 5:00 PM ET on the same day. Investors can participate by calling (800) 715-9871 or (646) 307-1963 internationally, using conference ID 9690359. The live webcast will be available on Viasat's Investor Relations website and archived for a month. Viasat is focused on developing global communications networks that ensure high-quality connections across various platforms.
Viasat (NASDAQ: VSAT) has been awarded a contract to provide satellite communication services to the U.S. Marine Corps (USMC) following a successful pilot program. This contract extends Viasat's end-to-end managed service capabilities to the Marine Expeditionary Force (I MEF), enhancing command and control through a scalable and deployable SATCOM solution. The service includes features like seamless roaming and secure data custody, aimed at increasing operational readiness and flexibility for Marine forces. Viasat's solution focuses on ensuring reliable connectivity and real-time situational awareness, supported by a comprehensive network operations center.
Emerson has been selected as the lead automation contractor for the $6 billion integrated polymers project at Ras Laffan Petrochemical Complex in Qatar, a collaboration with Viasat Energy Services. This project, a joint venture between QatarEnergy and Chevron Phillips Chemical, aims to establish the largest ethane cracker in the Middle East with a capacity of 2.1 million tonnes of ethylene per year. Emerson will leverage advanced automation and analytics to ensure operational efficiency and safety, with the facility expected to commence operations in late 2026.
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.