- Viasat Inc VSAT inked a Ka-band capacity lease agreement with Avanti Communications Group plc for additional coverage and capacity across the Middle East and Western Europe ahead of its ViaSat-3 global constellation.
- The deal expands Viasat's KA-SAT satellite coverage and capacity, and initially serve the new mobility customers in the region.
- Viasat plans to leverage Avanti's HYLAS 4 and HYLAS 2 satellites from October 2021.
- The arrangement will lead to the additional short-term capacity to the mobility and enterprise markets, enabling Viasat to serve more customers, win new business, and establish deeper market presence and penetration ahead of its ViaSat-3 satellite launch aimed over Europe, the Middle East, and Africa (EMEA), Viasat President Jimmy Dodd.
- Price action: VSAT shares closed higher by 1.04% at $53.57 on Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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