Viasat, a global satellite communications company based in Carlsbad, has announced a deal to buy Britain’s Inmarsat for $ 7.3 billion.
London-based Inmarsat operates a fleet of satellites providing global telephone and data connections, while Viasat serves the commercial and military aviation markets with its communications satellites.
The deal includes $ 850 million in cash, approximately 46 million Viasat shares valued at $ 3.1 billion and the assumption of $ 3.4 billion in net debt.
“This strategic move gives Viasat the scale needed to accelerate the pace of innovation that drives new and better services for our customers, broadens opportunities for our employees and provides a basis for significant positive free cash flow,” said Rick Baldridge, President and CEO of Viasat. .
The deal was announced in London earlier this week.
The combined company will operate multi-band and multi-orbital satellites to deliver higher data speeds and create a high-capacity global network serving commercial and military customers.
“Together, we can advance broadband communications and create new hybrid space and terrestrial networks that improve performance, coverage, speed, reliability and value for customers,†said Mark Dankberg, executive chairman of Viasat. “We look forward to welcoming the Inmarsat team to the Viasat family. “
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