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  • Thursday, April 25, 2024
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FCC Clears Viasat-Inmarsat Deal, Companies Expect to Close Transaction in Late May

The Federal Communications Commission has given Viasat (Nasdaq: VSAT) the go-ahead to continue its estimated $7.3 billion acquisition of Inmarsat.

FCC issued “unconditional” clearance to the proposed combination and both satellite service providers aim to complete the deal later this month, according to a joint statement released Friday.

The commission’s approval comes less than two weeks after the British competition regulator gave a similar opinion following the completion of its phase two review.

Viasat and Inmarsat are looking to build a global hybrid network that will merge their spectrum, terrestrial and satellite assets to address government and commercial satcom requirements.

The companies first announced the deal in November 2021, saying the transaction value comprises $850 million in cash, $3.1 billion in Viasat shares and $3.4 billion in assumed debt.

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