Welcome to our dedicated page for Viasat news (Ticker: VSAT), a resource for investors and traders seeking the latest updates and insights on Viasat stock.
Viasat Inc. (NASDAQ: VSAT) is a global communications company committed to ensuring that consumers, businesses, government agencies, and military operations remain connected through fast and secure internet and communication services. With a significant focus on satellite-based technologies, Viasat delivers high-speed broadband services, innovative communication systems, and secure government communication solutions through its three main segments: Satellite Services, Commercial Networks, and Government Systems.
Satellite Services: Viasat's satellite services segment provides satellite-based high-speed broadband to a diverse range of clients, including residential consumers, corporate enterprises, and commercial airlines. If you've ever used in-flight Wi-Fi on airlines such as JetBlue or United, you've experienced Viasat's connectivity solutions firsthand.
Commercial Networks: This segment focuses on the development of end-to-end communication systems and connectivity solutions. It supports various markets by providing robust and scalable communication infrastructures designed to meet both current and future demands.
Government Systems: Viasat's government systems segment specializes in producing secure, network-centric communication systems tailored for military and government applications. These solutions ensure that critical communication needs are met with the highest standards of security and reliability.
Viasat generates a substantial portion of its revenue from the United States, while also expanding its market reach across the Americas, Europe, the Middle East, Africa, and the Asia-Pacific region. The company’s recent achievements include major partnerships and projects that highlight its growing influence in the global communications market.
Recent Achievements and Projects:
- Royal Jordanian Airlines: Viasat has been selected to provide high-speed in-flight Wi-Fi across multiple fleets of Royal Jordanian Airlines, enhancing passenger experience on both short-haul and long-haul routes.
- Korean Air: Viasat will extend its in-flight connectivity services to an additional 40 aircraft in Korean Air's fleet, bringing the total to 70 aircraft equipped with Viasat's high-speed connectivity solutions.
- NexusWave: Viasat's subsidiary, Inmarsat Maritime, launched NexusWave, a fully managed connectivity service that integrates multiple high-speed networks to provide seamless global coverage for maritime operations.
- Partnership with Azercosmos: Viasat is collaborating with Azercosmos to bring its reliable L-band satellite services to Azerbaijan, expanding connectivity for industrial applications in remote locations.
- Energy Services: Viasat has launched an enhanced managed communications service for the oil and gas sector, incorporating low Earth orbit (LEO) satellite capacity to deliver flexible and robust connectivity solutions.
Financially, Viasat continues to demonstrate strong performance, with regular updates on its earnings and strategic initiatives. The company recently completed its acquisition of Inmarsat, further solidifying its position as a global leader in satellite communications.
For career opportunities at Viasat, visit the Viasat careers page.
Viasat (NASDAQ: VSAT) has been awarded a $33.6 million contract by the U.S. Air Force Research Laboratory (AFRL) under the Defense Experimentation Using Commercial Space Internet (DEUCSI) program. The contract involves developing Active Electronically Scanned Array (AESA) systems for resilient satellite communications on tactical aircraft, including rotary wing platforms.
The AESA systems will enable multi-band, multi-orbit, and multi-vendor network access, supporting the government's need for resilient communications. Viasat will leverage its commercial AESA technology and expertise to create a high-performance, low size, weight, and power (SWAP) phased array antenna that offers improved flexibility, reliability, and aerodynamics for aircraft.
This development aligns with Viasat's previous awards in phased array antenna technology across land, maritime, space, and airborne applications, announced in August 2023.
Viasat (NASDAQ: VSAT) has announced the granting of equity awards to Gary Chase, the company's new Senior Vice President and Chief Financial Officer, as part of his employment inducement package. The Board of Directors approved the following grants on September 16, 2024:
- 265,685 restricted stock units (RSUs)
- 59,199 performance-based restricted stock units (PSUs)
These awards were granted under Viasat's 2024 Employment Inducement Incentive Award Plan, in compliance with Nasdaq Listing Rule 5635(c)(4). The RSUs have different vesting schedules, while the PSUs will vest after a three-year performance period, with the actual number of units earned ranging from 0% to 175% of the target, based on Viasat's relative total shareholder return performance against the Russell 3000 Index.
Viasat's subsidiaries, Connect Finco SARL and Connect U.S. Finco , have upsized and priced an offering of $1,975 million in 9.000% Senior Secured Notes due 2029. This is an increase from the previously announced $1,250 million. The notes will be issued at 100.00% of face value and are expected to close on September 25, 2024. They will be secured on a first-lien basis by assets also securing the Issuers' existing senior secured credit facilities.
The net proceeds, along with cash on hand, will be used to redeem all outstanding 6.750% Senior Secured Notes due 2026 and pay related fees. The notes are being offered to qualified institutional buyers in the U.S. and outside the U.S. under Rule 144A and Regulation S, respectively, of the Securities Act of 1933.
Viasat's subsidiaries, Connect Finco SARL and Connect U.S. Finco , plan to offer $1,250 million in Senior Secured Notes due 2029. The notes will be sold privately to qualified institutional buyers in the U.S. under Rule 144A and internationally under Regulation S. They will be secured by first-lien assets also securing the Issuers' existing senior secured credit facilities. The net proceeds, along with cash on hand, will be used to redeem a portion of the Issuers' outstanding 6.750% Senior Secured Notes due 2026 and cover related expenses. This offering is subject to market conditions and does not constitute a redemption notice for the 2026 Notes. The new notes are not registered under the Securities Act and cannot be sold in the U.S. without registration or exemption.
Viasat (NASDAQ: VSAT) has been awarded a $153 million contract by the Defense Information Services Agency to provide network services for the U.S. Army's Blue Force Tracker (BFT) program. The contract spans five years, including a base year and four one-year options. Viasat will deliver engineering services, operational and technical support for the BFT network, which provides critical situational awareness for U.S. military and allied forces.
The contract continues Viasat's long-standing involvement with the BFT program, building on its previous work in developing and delivering terminals and networking services. Viasat's expertise will support the ongoing modernization of the BFT network, enhancing real-time decision-making capabilities for warfighters.
Viasat Inc. (NASDAQ: VSAT) has introduced Enhanced LAISR, a global mobility, on-demand managed L-band service for government mobile users. This service offers communications flexibility for airborne, maritime, and land platforms worldwide. Enhanced LAISR builds upon Viasat's award-winning L-band Airborne Intelligence, Surveillance and Reconnaissance (LAISR) solution, providing:
- Cost-effective, high-speed beyond line-of-sight (BLOS) SATCOM connectivity
- Low size, weight, and power (SWaP) user terminals
- All-weather resilience and 99.9% network reliability
- On-demand, managed L-band network access globally
The service will utilize the new Enhanced L-band Maritime Antenna (ELMA) and upcoming LAISR-COTM terminal, with additional terminals in development to further reduce SWaP.
Viasat (NASDAQ: VSAT) has appointed Gary Chase as Chief Financial Officer, effective September 16, 2024. Chase, formerly of Delta Air Lines, brings extensive operational finance expertise to support Viasat's growth plans. He replaces Shawn Duffy, who will transition to Chief Accounting Officer. At Delta, Chase oversaw key financial functions and served on the Leadership Committee. His experience includes roles in Financial Planning & Analysis, Investor Relations, and Corporate Planning.
Viasat CEO Mark Dankberg highlighted Chase's expertise in scaled operational financial systems and his perspective as a Viasat customer. Chase is expected to focus on increasing financial and operational automation, sharpening focus on cash generation, and optimizing Viasat's capital structure. The company aims to leverage Chase's experience to create value for employees, customers, and shareholders.
Azul, Brazil's largest airline, has partnered with Viasat Inc. (NASDAQ: VSAT) to equip seven new Airbus A330-900neo aircraft with advanced Ka-band in-flight connectivity. The first equipped aircraft is set to enter service in 2025. This expansion builds on their successful collaboration since 2021, when Azul became the first South American airline to offer Viasat's in-flight internet service.
Passengers will enjoy gate-to-gate internet access, with options for streaming, web browsing, and messaging. Azul is also adopting Viasat's Advertising platform to enhance the passenger Wi-Fi experience with ad-supported streaming sessions. This partnership aims to meet the growing demand for high-quality, consistent in-flight Wi-Fi, leveraging Viasat's high-throughput satellite capacity and ability to flex that capacity to meet demand in busy areas.
Viasat has announced the next evolution of its L-band Tactical Satellite Service (L-TAC), introducing new features for on-demand service activation. The enhanced L-TAC solution includes:
- Automated ordering and provisioning system
- Automated L-TAC channel assignment for better resource allocation
- Web portal for users to order or schedule service
- On-demand service in specific beams and geographic regions
Additionally, U.S. government customers now have access to a radio frequency over Internet protocol (RFoIP) solution for remote monitoring of L-TAC channels. The service provides an alternative to traditional UHF, VHF, and UHF SATCOM systems, offering beyond line-of-sight communications for military and government users worldwide.
Viasat (NASDAQ: VSAT) has confirmed the successful launch of the Arctic Satellite Broadband Mission (ASBM) from Vandenberg Space Force Base on August 11, 2024. The mission, led by Space Norway's subsidiary Heosat, involves two satellites deployed in a highly elliptical orbit (HEO) carrying Viasat's GX10A and GX10B Ka-band payloads. These payloads will extend Viasat's high-speed global network with dedicated Arctic region coverage, expected to enter service in early to mid-2025.
The ASBM aims to address the rapidly growing connectivity demand in the Arctic from governments, commercial mobility customers, and scientists. Viasat is also expanding its broadband capacity with five additional Ka-band satellites under construction, set to enter service over the next few years.
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