Viasat Awarded Five-Year $325 Million IDIQ Contract by U.S. Special Operations Command

Rhea-AI Summary

Viasat has been awarded a sole-source IDIQ contract worth up to $325 million over five years to support the U.S. Special Operations Command (SOCOM). This extends a previous contract valued at $350 million from 2017. The contract focuses on providing advanced communication services, enhancing situational awareness and operational capabilities for SOCOM. Viasat emphasizes its commitment to addressing the evolving needs of military forces in complex missions.

Positive

• Received a $325 million IDIQ contract for five years.
• Extends the previous $350 million contract awarded in 2017.
• Enhances capabilities in communications and situational awareness for SOCOM.

Negative

• None.

The sole-source award extends Viasat's previous SOCOM support contract

CARLSBAD, Calif., Dec. 29, 2022 /PRNewswire/ -- Viasat Inc. (NASDAQ: VSAT), a global communications company, today announced it was awarded an indefinite delivery, indefinite quantity (IDIQ) contract award worth up to $325 million over a five-year period to support the U.S. Special Operations Command (SOCOM). This sole-source IDIQ is an extension of a $350 million IDIQ contract awarded to Viasat in 2017.

Under the contract award, Viasat will continue to provide advanced mission equipment, services and support to sustain and improve situational awareness, integration, terrestrial networking, intelligence, surveillance and reconnaissance (ISR), tactical satellite communications, information assurance and network management capabilities of Special Operations Forces.

"This contract award reaffirms Viasat's deep commitment and partnership with the SOCOM community to understand and address the capability needs of forces for the most complex missions," said Craig Miller, president of Viasat Government Systems. "Networking and communications needs across the modern battlespace are continually evolving and we're excited to help SOCOM maintain the advantage with solutions that deliver the performance, flexibility and resilience Special Operations Forces require to successfully operate independently and interoperate effectively with joint forces."

The IDIQ contract vehicle is intentionally flexible to allow for the evolution and adaption required to shift with rapid technology developments and the dynamic mission requirements of SOCOM forces. This structure is important to enabling new concepts of operation (CONOPS) and achieving desired mission effects through rapidly deployed technologies, systems and services.

About Viasat

Viasat is a global communications company that believes everyone and everything in the world can be connected. For more than 35 years, Viasat has helped shape how consumers, businesses, governments and militaries around the world communicate. Today, the Company is developing the ultimate global communications network to power high-quality, secure, affordable, fast connections to impact people's lives anywhere they are—on the ground, in the air or at sea. To learn more about Viasat, visit: www.viasat.com, go to Viasat's Corporate Blog, or follow the Company on social media at: Facebook, Instagram, LinkedIn, Twitter or YouTube.

Forward-Looking Statements

This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Forward-looking statements include statements about the actual amount ordered under the IDIQ, the products and services to be delivered by Viasat, and the resulting benefits to SOCOM. Readers are cautioned that actual results could differ materially and adversely from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: construction, launch and operation of satellites, including the effect of any anomaly, operational failure or degradation in satellite performance; contractual problems, product defects, manufacturing issues or delays, regulatory issues, technologies not being developed according to anticipated schedules, or that do not perform according to expectations; delays in approving U.S. government budgets and cuts in government defense expenditures; and increased competition and other factors affecting the government and defense sectors generally. In addition, please refer to the risk factors contained in Viasat's SEC filings available at www.sec.gov, including Viasat's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. Viasat undertakes no obligation to update or revise any forward-looking statements for any reason.

Copyright © 2022 Viasat, Inc. All rights reserved. Viasat, the Viasat logo and the Viasat signal are registered trademarks of Viasat, Inc. All other product or company names mentioned are used for identification purposes only and may be trademarks of their respective owners.

 

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SOURCE Viasat, Inc.

FAQ

What is the value of the new contract awarded to Viasat by SOCOM?

The new contract awarded to Viasat is worth up to $325 million.

How long is the IDIQ contract awarded to Viasat?

The IDIQ contract awarded to Viasat is for a duration of five years.

What previous contract does the new Viasat contract extend?

The new contract extends a previous contract worth $350 million awarded in 2017.

What services will Viasat provide under the SOCOM contract?

Viasat will provide advanced mission equipment, services, and support for situational awareness and tactical communication.

What is Viasat's commitment regarding the SOCOM contract?

Viasat is committed to addressing the evolving capability needs of SOCOM for complex missions.