CARLSBAD, Calif., June 21,
2022 /PRNewswire/ -- Viasat Inc. (NASDAQ: VSAT), a
global communications company, announced today that, at its Special
Meeting of Stockholders, it 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, and provide a foundation for significant positive free
cash flow.
Richard Baldridge, President
& Chief Executive Officer, commented: "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."
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.
About Viasat
Viasat is a global communications company that believes everyone
and everything in the world can be connected. For more than 36
years, Viasat has helped shape how consumers, businesses,
governments and militaries around the world communicate. Today, the
Company is developing the ultimate global communications network to
power high-quality, secure, affordable, fast connections to impact
people's lives anywhere they are—on the ground, in the air or at
sea. To learn more about Viasat, visit: www.viasat.com, go
to Viasat's Corporate Blog, or follow the Company on
social media
at: Facebook, Instagram, LinkedIn, Twitter or YouTube.
Forward-Looking Statements
This press release contains forward-looking statements that are
subject to the safe harbors created under the Securities Act of
1933 and the Securities Exchange Act of 1934. Forward-looking
statements include statements that refer to the anticipated
transaction close date; the receipt of regulatory approvals and
clearances; the expected benefits of the Inmarsat acquisition,
including enhanced teams, technologies, resources, scale, scope and
services; new and better services, and greater performance,
reliability, and value for our customers; expected impact of
the acquisition on Viasat's opportunity for employees, and
results of operations and financial condition; anticipated growth
and trends in the business or key markets of the combined company;
and plans, objectives and strategies for future operations.
Readers are cautioned that actual results could differ
materially and adversely from those expressed in any
forward-looking statements. Factors that could cause actual results
to differ include: the ability of Viasat to successfully
integrate Inmarsat operations, technologies and employees; the
ability to realize anticipated benefits and synergies of the
acquisition, including the expectation of enhancements
to Viasat's products and services, greater revenue
opportunities, operating efficiencies, and cost savings; the
ability to ensure continued performance and market growth
of the business; changes in the global business
environment and economic conditions; the availability and cost of
credit; changes in relationships with key customers, suppliers,
distributors, resellers, and others as a result of the acquisition;
and other factors affecting the communications industry
generally. In addition, please refer to the risk factors
contained in Viasat's SEC filings available at www.sec.gov,
including Viasat's most recent Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q. Readers are cautioned not to
place undue reliance on any forward-looking statements, which speak
only as of the date on which they are made. Viasat undertakes no
obligation to update or revise any forward-looking statements for
any reason.
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SOURCE Viasat, Inc.