Defence

Viasat and Inmarsat have received UK government approval for their proposed merger

Viasat Inc. (NASDAQ: VSAT), a global communications company, and Inmarsat, a leading provider of global mobile satellite communications services, announced that they have received UK Government approval for their proposed business combination under the National Security and Investment Act.

The Secretary of State for Business, Energy and Industrial Strategy (BEIS) announced that the deal did not pose a risk to the UK’s national security.

In March 2022, the companies made an economic commitment to BEIS, underlining their pledge to strengthen and advance the UK’s National Space Strategy. Economic measures include the expansion of high-skilled jobs in key industries and a 30% increase in overall UK research and development spending.

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 capabilities to connect the world affordably, securely and reliably. The UK Government’s approval of Viasat’s proposed acquisition of Inmarsat under the Act on National Security and Investment is another important step forward towards a deal and we would like to thank the UK Government for its close cooperation throughout the process.

“Viasat has been a trusted partner to the UK defense and national security communities for over a decade, including providing market-leading encryption products. The combined company, which will be headquartered in the UK, will build on the strong relationship with the UK that Viasat and Inmarsat already enjoy and allow us to deepen our contribution to the UK’s National Space Strategy.”

Rajiv Suri, CEO of Inmarsat, added: “Inmarsat is proud of our decades of close collaboration with the UK Government. This approval brings us closer to the new jobs and investment in the UK that have been made by 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 consolidation.”


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https://www.spacedaily.com/reports/Viasat_and_Inmarsat_receive_UK_Govt_approval_for_proposed_merger_999.html Viasat and Inmarsat have received UK government approval for their proposed merger

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