Viasat Receives Stockholder Approval for Proposed Acquisition of Inmarsat
Jun 22, 2022
CARLSBAD, Calif – 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.
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