The acquisition will bring together two major satellite operators with businesses in broadband, mobility, and defence, with a spectrum license portfolio across the Ka-, L-, and S-bands.
Viasat has announced that its shareholders voted to approve its $7.3bn plan to acquire satellite operator Inmarsat.
Viasat continues to expect the transaction to close in the second half of 2022, subject to the receipt of certain regulatory approvals and clearances and the satisfaction of other customary closing conditions.
The combined company will create a global communications innovator with enhanced scale and scope to affordably, securely, and reliably connect the world. Viasat believes the strategic combination will increase the pace of innovation to help drive new and better services for customers, broaden opportunities for employees, and provide a foundation for significant positive free cash flow.
Commenting on the acquisition plan, Richard Baldridge, President & Chief Executive Officer, said: “This approval is an important milestone as we move closer to completing our acquisition of Inmarsat. The overwhelming support of our shareholders confirms that this transformative combination is in the best interests of our company, shareholders, and allows for significant future growth in revenue, EBITDA and free cash flow. The combination of our unique teams, technologies, and resources will provide an incredible foundation to advance broadband communications and drive greater performance, reliability, and value for our customers. We are excited about what the future holds and look forward to the opportunities ahead.”