Press release
Viasat Completes Acquisition of Inmarsat
Transaction Creates a New Global Partner in Satellite Communications CARLSBAD, Calif., May 31, 2023 /PRNewswire/ -- Viasat Inc., (NASDAQ: VSAT), a global
About this update from Viasat, Inc.
[{"type":"text","content":"Transaction Creates a New Global Partner in Satellite Communications\nCARLSBAD, Calif., May 31, 2023 /PRNewswire/ -- Viasat Inc., (NASDAQ: VSAT), a global communications company, today announced the completion of its acquisition of Inmarsat.\nThe combined company enhances our scale and scope to continue to drive growth in the increasingly dynamic and competitive satellite communications industry. The company's assets, once fully integrated, are expected to increase the pace and scope of innovation in the global satellite connectivity sector, offering new and improved capabilities to customers that will address the ever-increasing speed, flexibility, reliability, coverage and security they demand.\n\"We are thrilled to welcome Inmarsat's employees, customers, shareholders and partners into the Viasat ecosystem,\" said Mark Dankberg, Chairman and CEO, Viasat. \"The combination of our companies brings together the people, technology, innovation, network assets, spectrum resources and global partnerships needed to help connect the world more affordably, securely and reliably. Together, we believe we are positioned to offer customers a multi-layered network that gives them the right connectivity at the right time, place and price.\n\"Thanks to all those who worked so tirelessly and thoroughly to complete this transaction,\" said Dankberg. \"I'd also like to thank the Viasat team and the leadership team at Inmarsat, especially the contributions of Rajeev Suri, Inmarsat CEO, and Andy Sukawaty, Inmarsat Chairman. Rajeev and Andy will be joining the Viasat Board of Directors as representatives of the prior Inmarsat private equity ownership consortium. I look forward to their continued contributions to the company.\"\nIn connection with the appointment of Rajeev and Andy, The Baupost Group will no longer serve in a non-voting observer capacity to the Viasat Board of Directors. \"I would like to thank The Baupost Group, and in particular Seth Klarman and Greg Ciongoli, for their valuable contributions to boardroom discussions over the last five years, and for their strategic insights and support of the Inmarsat acquisition,\" said Dankberg.\nThe combined company will continue to be led by Mark Dankberg as Chairman and CEO and Guru Gowrappan as President. Viasat also reconfirmed that its new global international business headquarters will b...