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The CMA began the investigation after offering Viasat and Inmarsat a chance to alter the $7,300,000,000 deal.
Viasat had hoped to complete the takeover before the end of 2022.
Inmarsat has 14 satellites currently in orbit and expects to complete a $7,300,000,000 merger with global satellite operator Viasat later 2022.
After Viasat’s acquisition of Inmarsat is approved, the combined firms will operate a fleet of 19 satellites with an additional 10 spacecraft under construction projected to launch within the next three years.
The third ViaSat-3 satellite is undergoing final payload integration and testing at Viasat’s Tempe, Arizona facility and will focus on the Asia Pacific region to complete Viasat’s global service coverage.
Viasat completed mechanical environmental testing for the ViaSat-3 Americas satellite on 2022-10-11.
Viasat proposed to acquire Inmarsat in a $7,300,000,000 takeover.
Viasat Inc. and Inmarsat are working with the UK Competition and Markets Authority to demonstrate how their planned transaction will benefit airline, passenger, and enterprise users of in-flight connectivity in aviation.
Viasat and Inmarsat expect the combined company to provide more jobs and investment in the UK space industry than Inmarsat could provide as a standalone satellite communications provider.
Viasat is readying to launch the ViaSat-3 satellite constellation to deliver additional broadband capacity to maritime customers.
The U.K. Competition and Markets Authority prepared to launch a full-scale probe of Viasat’s takeover of Inmarsat on 2022-10-06.
Viasat and Inmarsat have until 2022-10-13 to offer a solution to allay the CMA’s concerns or face an in-depth investigation.
AXESS Networks Maritime and Viasat established their strategic partnership in Athens, Greece on 2022-10-06.
The proposed Viasat–Inmarsat transaction received approval from the Committee on Foreign Investment in the United States over the summer of 2022.
The sale of Viasat’s Link 16 Tactical Data Links business includes the Multifunctional Information Distribution System (MIDS) platforms, associated next-generation Link 16 terminals and handheld radios, and the Link 16 to space business.
Viasat will use proceeds from the sale of Link 16 to invest in its satellite business and increase its focus on space-based networks.
Proceeds from the Link 16 Tactical Data Links sale are expected to reduce the combined Viasat and Inmarsat net leverage by approximately 0.7 of a turn by 2023-06-30.
L3Harris will acquire the TDL product line from Viasat’s Government Systems Segment, consisting of Link 16 Multi-functional Information Distribution System (MIDS) platforms and associated terminals.
Viasat’s TDL product line comprises 450 employees and generates approximately $400,000,000 in annual sales.
The deal to acquire Viasat’s TDL product line is expected to close in the first half of 2023, subject to required regulatory approvals, clearances, and other customary closing conditions.