Viasat-Inmarsat merger: Impact on satellite internet market

The completion of the acquisition between Viasat Inc. and Inmarsat has significant implications for the satellite internet market. This merger enhances Viasat's scale and scope in the satellite communications industry, driving innovation and offering new capabilities to customers. The leadership and board changes, along with the establishment of a new global international business headquarters, further solidify Viasat's position as a global leader in satellite communications. Additionally, the acquisition brings investment and job opportunities to the UK space sector.

Índice
  1. Completion of the acquisition
  2. Enhancing scale and scope
  3. Driving innovation and offering new capabilities
  4. Leadership and board changes
  5. New global international business headquarters
  6. Organizational structure and leadership decisions
  7. Creating a global leader in satellite communications
  8. Investment and job opportunities in the UK space sector
  9. Delivering connectivity and safety services
  10. Details of the acquisition deal
  11. Financial and legal advisors
  12. About Viasat
  13. Completion date and forward-looking statements
  14. Factors affecting the acquisition

Completion of the acquisition

Viasat Inc. has successfully completed its acquisition of Inmarsat, a leading provider of global mobile satellite communications. This acquisition marks a significant milestone for Viasat, as it expands its presence in the satellite internet market and strengthens its position as a global communications company.

Enhancing scale and scope

The integration of Inmarsat's assets with Viasat's existing capabilities enhances the scale and scope of Viasat's operations. This allows the company to offer a wider range of services and solutions to its customers, including high-quality, reliable, secure, and affordable satellite internet connections.

Driving innovation and offering new capabilities

The combination of Viasat and Inmarsat brings together two companies with a strong track record of innovation in the satellite communications industry. This merger is expected to drive further innovation and offer new capabilities to customers, enabling them to stay connected in even the most remote locations.

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Leadership and board changes

Mark Dankberg, the Chairman and CEO of Viasat, will continue to lead the combined company. Guru Gowrappan will also continue in his role as President of the combined company. In addition, Rajeev Suri and Andy Sukawaty from Inmarsat will join the Viasat Board of Directors, bringing their expertise and experience to the company.

New global international business headquarters

Viasat's new global international business headquarters will be located in London, UK. This strategic decision reflects the company's commitment to the UK space sector and its desire to leverage the expertise and talent available in the region.

Organizational structure and leadership decisions

The organizational structure and leadership decisions of the combined company will be determined during the integration process. This process will involve careful consideration of the strengths and capabilities of both Viasat and Inmarsat, with the goal of creating a unified and efficient organization.

Creating a global leader in satellite communications

The combination of Viasat and Inmarsat creates a global leader in satellite communications. With a broader range of services and a stronger presence in the market, the combined company is well-positioned to meet the growing demand for satellite internet connectivity across various industries and sectors.

Investment and job opportunities in the UK space sector

The acquisition of Inmarsat by Viasat brings significant investment and job opportunities to the UK space sector. This is expected to have a positive impact on the local economy and contribute to the growth of the UK's space industry.

Delivering connectivity and safety services

The combined company will deliver connectivity and safety services across various markets, including maritime, aviation, government, and consumer sectors. This includes providing reliable and secure satellite internet connections to remote locations, ensuring that people and businesses can stay connected wherever they are.

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Details of the acquisition deal

As part of the acquisition deal, Inmarsat shareholders received $551 million in cash and approximately 46.36 million shares of Viasat common stock. Viasat drew down approximately $1.35 billion of its committed financing package for the acquisition.

PJT Partners served as the financial advisor to Viasat, while Latham & Watkins LLP and Linklaters served as legal advisors. Barclays, J.P. Morgan Securities plc, and Trinity Advisers acted as financial advisors to Inmarsat, with Kirkland & Ellis, Clifford Chance, and Steptoe & Johnson LLP serving as legal advisors to Inmarsat and its majority shareholders.

About Viasat

Viasat is a global communications company focused on connecting people and things worldwide. The company is dedicated to developing a global communications network that provides high-quality, reliable, secure, and affordable connections to its customers.

Completion date and forward-looking statements

The acquisition of Inmarsat by Viasat was completed on May 30, 2023. However, it is important to note that forward-looking statements caution that actual results could differ from expressed expectations.

Factors affecting the acquisition

Several factors can affect the success of the acquisition, including the integration of assets, market conditions, satellite performance, and regulatory actions. Viasat will need to navigate these factors carefully to ensure a smooth transition and maximize the benefits of the merger.

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