...the who's who,
and the what's what 
of the space industry

news Space News

Search News Archive

Title

Article text

Keyword

  • Home
  • News
  • Viasat and Inmarsat receive UK Govt approval for proposed merger

Viasat and Inmarsat receive UK Govt approval for proposed merger

Written by  Thursday, 22 September 2022 10:33
Write a comment
London, UK (SPX) Sep 21, 2022
Viasat Inc., (NASDAQ: VSAT), a global communications company, and Inmarsat, a leading provider of global mobile satellite communications services, has announced the receipt of approval of the proposed combination of their businesses by the UK Government under the National Security and Investment Act. The Secretary of State for Business, Energy and Industrial Strategy (BEIS) has announced t

Viasat Inc., (NASDAQ: VSAT), a global communications company, and Inmarsat, a leading provider of global mobile satellite communications services, has announced the receipt of approval of the proposed combination of their businesses by the UK Government under the National Security and Investment Act.

The Secretary of State for Business, Energy and Industrial Strategy (BEIS) has announced that the transaction does not pose a risk to the UK's national security.

In March 2022, the companies committed to economic undertakings with BEIS, which underlined their pledge to strengthen and advance the UK's National Space Strategy. The economic undertakings include an expansion in the number of highly skilled jobs in key areas and a 30% increase in overall research and development spending in the UK.

Mark Dankberg, Executive Chairman and CEO of Viasat, said: "The combination of Viasat and Inmarsat creates a leading global communications innovator with enhanced scale and scope to affordably, securely and reliably connect the world. The UK Government's clearance of Viasat's proposed acquisition of Inmarsat under the National Security and Investment Act is another important step forward on the road to closing the deal, and we would like to thank the UK Government for their close collaboration throughout the process.

"Viasat has been a trusted partner of the UK's defence and national security communities for more than a decade, including in the provision of its market-leading encryption products. The combined company, whose global international business headquarters will be situated in the UK, will build upon the strong UK relationships that Viasat and Inmarsat already enjoy and allow us to deepen our contribution to the UK's National Space Strategy."

Rajeev Suri, Inmarsat CEO, added: "Inmarsat is proud of our decades of close work with the UK government. This approval brings us closer to delivering the new jobs and investment to the UK that have been committed by both Inmarsat and Viasat. Together, we will be well-positioned to compete in a robust market that has both well-funded new entrants and other industry players in the process of consolidating."


Related Links
Inmarsat
Viasat
The latest information about the Commercial Satellite Industry

Tweet

Thanks for being there;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Monthly Supporter
$5+ Billed Monthly

SpaceDaily Contributor
$5 Billed Once

credit card or paypal



SPACEMART
KTSAT contracts with Satconsult to provide expert oversight of satellite construction
Paris, France (SPX) Sep 15, 2022
Euroconsult has announced that its affiliate, Southern Aerospace and Telecom Consulting (Satconsult) has contracted with KTSAT to provide expert oversight throughout the build of Koreasat 6A satellite. The contract marks the third time that KTSAT will put its trust in Satconsult's depth of expertise to support the monitoring and control of the manufacturing process and advise on best practices from design through testing of highly strategic spacecrafts. "We are delighted to extend our long-standin ... read more


Read more from original source...

You must login to post a comment.
Loading comment... The comment will be refreshed after 00:00.

Be the first to comment.

CONTACT THE AUTHOR

* Denotes Required Field
Personal information
Message

Interested in Space?

Hit the buttons below to follow us...