Viasat Signs UK Armed Forces Covenant Pledging Commitment to Military Community

Rhea-AI Summary

Viasat has signed the UK Armed Forces Covenant, affirming its commitment to support UK military personnel, reservists, veterans, and their families. The company received a Bronze Award under the Defence Employer Recognition Scheme for its dedication to the armed forces community. Viasat's investments include a £300 million plan for the ViaSat-3 global satellite constellation and a new state-of-the-art facility in Aldershot, enhancing support for the UK government and Ministry of Defence. The covenant strengthens Viasat's ties with the UK Ministry of Defence.

Positive

• Affirmed commitment to UK military through signing of the Armed Forces Covenant.
• Received a Bronze Award recognizing support for the armed forces community.
• Planned £300 million investment in the ViaSat-3 global satellite constellation.
• Opened a new facility in Aldershot to support UK government and defence operations.

Negative

• None.

Ministry of Defence makes award to Viasat under Defence Employer Recognition Scheme

CARLSBAD, Calif. and FARNBOROUGH, United Kingdom, July 28, 2022 /PRNewswire/ -- Viasat UK Ltd., a subsidiary of global communications company Viasat Inc. (NASDAQ: VSAT), today announced that it has affirmed its commitment to supporting UK military personnel, reservists, veterans and their families by signing the UK Armed Forces Covenant.  The Armed Forces Covenant is a commitment made by organisations of all types to provide support for members of the armed forces community through employment, education, financial assistance or access to critical services.

The commitment further deepens Viasat's longstanding relationship with the UK Ministry of Defence (MoD). In 2021, the Company opened a new state-of-the-art facility featuring a Network Operations Centre (NOC) and Cyber Security Operations Centre (CSOC) in Aldershot, Hampshire. The centres will support sovereign operations and capabilities for the UK government and MoD, as well as defend against increasingly sophisticated cyberattacks from a growing number of adversaries. The facility is part of a larger investment in the UK prosperity and sovereignty agenda, which includes a planned £300m investment to support the launch and operation of the ViaSat-3 global satellite constellation over Europe, Middle East and Africa.

The MoD also recognised Viasat with a Bronze Award under the Defence Employer Recognition Scheme (ERS). The Defence ERS encourages employers to pledge support for defence and inspire other organizations to do the same. It recognises organisations' commitments to the armed forces community and alignment of company values with the Armed Forces Covenant.

Viasat's Vice Chairman Rick Baldridge attended the in-person signing of the Covenant at the company's Aldershot offices.

"We are very proud to sign the Armed Forces Covenant which is in keeping with the core culture of our company," said Baldridge. "With hundreds of veterans and military family members working in our offices around the world, the armed forces community is an indispensable part of our workforce. We are looking forward to supporting UK service members and their families with new employment opportunities and other support programs."

Leo Docherty, Member of Parliament (MP) for Aldershot, joined in applauding Viasat's signing of the Covenant and broader commitments in the UK.

"I'm delighted that Viasat UK is showing its support for our service personnel by raising the flag and signing the Armed Forces Covenant. As someone with a military background, I am delighted to see Viasat UK extend its commitment to our Armed Forces, veterans and Reserves - and their families - right across the UK," said Mr. Docherty. "Offering meaningful employment options and support for those who are transitioning from the military to civilian life means their talents are maximised in their positive contribution to the business community."

Viasat has a long history of supporting military veterans. The Armed Forces Covenant and Bronze Award are further examples of this continued commitment to veterans and military families everywhere through employment opportunities, career development and transition workshops. Last year, the U.S. Department of Labor gave Viasat a 2021 HIRE Vets Medallion Award, which recognises investment in recruiting and retaining veterans, as well as offering veteran-specific skills development and leadership programs. Viasat was also named a top employer of veterans by Military Times' 2021 Best for Vets: Employers List.

Mr. Docherty continued, "The Armed Forces Covenant is a promise by the nation to ensure the fair treatment of those who are serving, as well as veterans and their families. I'm delighted to see even more organisations - including Viasat UK, headquartered in my constituency of Aldershot - sign up to this pledge."

The signing of the Armed Forces Covenant follows Viasat and Inmarsat's recently announced agreement with the UK Government's Department for Business, Energy and Industrial Strategy (BEIS) as part of the proposed combination of the two companies. This agreement includes binding commitments to expand numbers of highly-skilled jobs in key areas and research & development investment that will support the UK's National Space Strategy.

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 Statement
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 that refer to Viasat employment support and investment in UK military personnel, reservists, veterans and their families; Viasat's support for sovereign operations and capabilities for the UK government and MoD; the agreed upon package of legally-binding undertakings with the UK Government's Department for BEIS as part of the proposed combination of Viasat and Inmarsat; Viasat's plan to invest £300 million in the UK; and our ability to expand the numbers of highly-skilled jobs in key areas. 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: risks associated with the construction, launch and operation of the ViaSat-3 class satellites and Viasat's other satellites, including the effect of any anomaly, operational failure or degradation in satellite performance; the ability to realize the anticipated benefits of the ViaSat-3 satellite platforms; unexpected expenses or delays related to the satellite system; the ability to successfully implement Viasat's business plan for broadband satellite services on Viasat's anticipated timeline or at all, including with respect to the ViaSat-3 satellite platforms; 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; and increased competition and other factors affecting the connectivity sector, 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.

 

View original content:https://www.prnewswire.com/news-releases/viasat-signs-uk-armed-forces-covenant-pledging-commitment-to-military-community-301594958.html

SOURCE Viasat, Inc.

FAQ

What is the significance of Viasat signing the UK Armed Forces Covenant?

The signing demonstrates Viasat's commitment to support UK military personnel, veterans, and their families.

What award did Viasat receive under the Defence Employer Recognition Scheme?

Viasat received a Bronze Award for its dedication to the armed forces community.

What investment plans does Viasat have in the UK?

Viasat has plans for a £300 million investment to support the launch and operation of the ViaSat-3 global satellite constellation.

Where is Viasat's new facility located?

The new facility is located in Aldershot, Hampshire.

How does the Armed Forces Covenant impact Viasat's operations?

It strengthens Viasat's relationship with the UK Ministry of Defence and enhances its support for defence operations.