Viasat Inc. (NASDAQ: VSAT) — at the company’s Special Meeting of Stockholders — received the necessary stockholder approvals for the proposed acquisition of Inmarsat.
Viasat continues to expect the transaction to close in the second half of calendar year 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 leading 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 as well as provide a foundation for significant, positive, free cash flow.
The complete results of the Special Meeting will be reported in a Form 8-K to be filed with the U.S. Securities and Exchange Commission in the coming days, after certification by Viasat’s Inspector of Election.
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.”
Also, Viasat Inc. is elevating the home satellite internet experience in the U.S. and is now giving customers in select markets new residential plans that will offer, in the company’s words, blazing, high-speed connections that will allow customers to do more, faster – from downloading and streaming more movies, videos and content, to enjoying a snappier web browsing experience.
Viasat’s New Choice home internet plans will give U.S. consumers more options in selecting the correct internet service to meet their speed and data needs by offering five, enhanced, service plans that will deliver download speeds up to 25 Mbps and 150 Mbps in select areas.
Viasat’s New Choice home internet plans are available now, in select markets, with plans to roll out nationwide. Additional features include:
- 4K streaming support
- Double download speeds in select areas
- Unlimited Standard Data
- Best value in the satellite market
- Pricing starting at $49.99/month
In a recent survey from Gallup, nearly half of all U.S. adults said they would prefer to live in a rural area or small town. This desire highlights the importance of high-speed satellite internet as people move into suburban and rural parts of America. Viasat’s New Choice home internet plans can help meet this demand for high-speed connectivity even in the hardest-to-reach locations, by offering packages that will deliver download speeds of up to 150 Mbps in select areas.
Viasat is committed to delivering more bandwidth, speeds and data to its residential customers. The Company’s next-generation satellite constellation, ViaSat-3, is expected to be capable of delivering even greater bandwidth capabilities that will result in more speed, data and streaming options. Viasat has received various accolades from consumer outlets, including being named the ‘Fastest Satellite Internet Provider‘ among U.S. rural internet service providers (ISPs) by CNET and receiving the Best for High Speeds designation by ZDNet.
Steven Mesnick, general manager of U.S. broadband at Viasat, said, “With the launch of these New Choice home internet plans, we are introducing a new satellite internet experience to help meet the evolving needs of residential consumers. By optimizing our satellite network, we expect to deliver more data at faster speeds, more consistently. These speeds will enable us to provide the experience that our customers desire. Our new service plans demonstrate a technological achievement that we are proud of: delivering 100 times the speed compared to the first service plans we offered when we entered the residential internet market ten years ago with the launch of ViaSat-1. We are committed to innovation so that our customers can do more, faster.”
