Viasat Set to Acquire Inmarsat |
NEWS |
American-based global communications company, Viasat, has recently announced its plan to acquire British satellite communications company, Inmarsat, in a US$7.3 billion deal. This “transformative” deal, as described by Viasat, is expected to facilitate value creation of US$1.5 billion through cross-selling and leveraging synergies between capital and operating expenditure. Viasat is intending to retain and expand Inmarsat’s presence in the United Kingdom (UK) by continual investments through collaborating with the government. The acquisition is comprised of US$850 million in cash, 46.36 million Viasat shares that are worth approximately US$3.1 billion, and an estimated US$3.4 billion of net debt. The companies described their combination as one that would establish a “leading global communications innovator with enhanced scale and scope to affordably, securely and reliably connect the world”, that could deliver advanced new services in the fixed and mobile telecom service sectors.
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