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) will announce its second quarter fiscal year 2023 financial results on November 8, 2022, after market close. The results will be available via a shareholder letter on its Investor Relations website. A conference call is scheduled for the same day at 2:00 PM PT / 5:00 PM ET, with dial-in options provided for participants. Viasat aims to enhance global communications for various sectors, including businesses and governments.
Viasat (NASDAQ: VSAT) and Inmarsat have received approval from Australia’s Foreign Investment Review Board (FIRB) for their planned business combination. This acquisition is vital as Australia is a key market for both companies. The deal has also secured approvals from the UK Government and the Committee on Foreign Investment in the United States. Viasat’s CEO, Mark Dankberg, expressed optimism about enhancing technology and services for customers globally, while Inmarsat's CEO, Rajeev Suri, indicated that the approval underlines the competitive advantages of the merger.
Viasat (NASDAQ: VSAT) and Inmarsat are collaborating with the UK's Competition and Markets Authority (CMA) as their proposed merger undergoes a Phase 2 investigation. They anticipate that this combination will enhance in-flight connectivity (IFC) services, making them more efficient and affordable globally. Despite fierce competition in the IFC market, the companies are optimistic about increasing service availability through innovative technologies. The merger has received several key regulatory approvals, including from the UK Government and the Committee on Foreign Investment in the U.S.
Viasat Inc. (NASDAQ: VSAT) announced that its ViaSat-3 Americas satellite has successfully completed mechanical environmental testing, a key milestone towards its launch. This testing ensures that the satellite can withstand the intense conditions of a launch, following earlier successful thermal vacuum tests. The launch is on track for later this year, with further testing planned for deployment systems. The ViaSat-3 class aims to deliver superior bandwidth economics and flexibility for global coverage, focusing on the Americas, EMEA, and Asia Pacific regions.
Viasat (NASDAQ: VSAT) and Inmarsat are partnering to enhance In-Flight Connectivity (IFC) in aviation. The UK's Competition and Markets Authority (CMA) is conducting a Phase 2 review of their proposed transaction, which aims to lower costs and improve efficiency in the IFC sector. The combined company will support job growth in the UK space industry. They have received several regulatory approvals, including clearance from the UK Government and the U.S. Committee on Foreign Investment. Both companies express optimism about navigating the regulatory process to finalize the transaction.
L3Harris Technologies (NYSE:LHX) has signed a definitive agreement to acquire Viasat (NASDAQ:VSAT) for approximately $1.96 billion, focusing on Viasat's Tactical Data Links (TDL) product line. This acquisition will enhance L3Harris's ability to provide advanced Joint All-Domain Command and Control (JADC2) solutions, integrating with Link 16. The TDL product line generates around $400 million in annual sales, and the transaction is expected to close in the first half of 2023, pending regulatory approvals.
Viasat Inc. (NASDAQ: VSAT) has agreed to sell its Link 16 Tactical Data Links business to L3Harris Technologies for $1.96 billion, with expected net cash proceeds of approximately $1.8 billion. This segment generated about $400 million in revenue and $125 million in Adjusted EBITDA for the year ending June 30, 2022. The sale aims to enhance Viasat's balance sheet and liquidity, reducing net leverage from 4.2x to 1.4x LTM Adjusted EBITDA. The transaction is expected to close in H1 2023, subject to regulatory approvals.
Viasat (NASDAQ: VSAT) announced the successful completion of the first ViaSat-3 satellite's integration into its flight configuration, marking a significant milestone in satellite communications. The satellite will undergo mechanical environmental testing to simulate launch conditions. Its reflectors and solar arrays, among the largest ever sent to space, contribute to a total wingspan of 144 feet. The ViaSat-3 class satellites aim to deliver effective bandwidth economics and coverage across the Americas, EMEA, and Asia Pacific. The launch is anticipated later this year.
Viasat and Inmarsat have received approval from the UK government for their proposed combination under the National Security & Investment Act. This approval indicates no risk to the UK's national security from the transaction. As part of their commitment to the UK government, both companies plan to enhance the UK's National Space Strategy through the creation of new jobs and increased R&D spending. Viasat's CEO expressed that this merger positions the combined company as a leading global communications innovator.
Viasat (NASDAQ: VSAT) is hosting its 2022 Annual Meeting of Stockholders today, September 1, 2022, at 8:30 a.m. PT / 11:30 a.m. ET. The meeting will be held virtually and accessible via webcast. The agenda includes proxy ballot measures and a presentation on Viasat's business strategy by Mark Dankberg, Chairman and CEO. Stockholders of record can vote and ask questions online. A replay of the meeting will be available on the Viasat Investor Relations website.