Viasat expects to complete long-awaited acquisition of Inmarsat by the end of this month

  • 📰 sdut
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 95%

United States News News

United States United States Latest News,United States United States Headlines

Carlsbad satellite Internet provider also updates status of terabit class ViaSat-3 satellites, the first of which blasted into orbit on April 30.

Carlsbad satellite Internet provider Viasat expects to complete its pending buyout of rival Inmarsat this month — bulking up the combined companies’ competitive position amid stiff competition in the satellite broadband market.

Dankberg said the satellite has reached its orbital slot some 22,000 miles above Earth. It will undergo further testing before beginning to beam down bandwidth by mid-summer. Space has been a fast-growing market — led by Elon Musk’s SpaceX’s and its Starlink fleet of low-altitude Internet satellites. SpaceX said on social media earlier this month that it now has 1.5 million customers worldwide — up from just 250,000 about 15 months ago.

But increased competition from Starlink and limited bandwidth on its existing satellites has resulted in a loss of residential customers for Viasat. The company didn’t disclose how many subscribers have left. Its satellite services revenue, which includes residential and in-flight connectivity, fell 3 percent in the fourth quarter. But it grew 2 percent for the full 2023 fiscal year to $1.2 billion.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines