Viasat Falls on Telesat Hookup
Viasat Inc. (NASDAQ: VSAT) saw its shares stumble Monday, as the global leader in satellite communications announced the advancement of its multi-orbit services roadmap. Viasat has signed an agreement with Telesat to integrate Telesat Lightspeed LEO Ka-band capacity into its multi-orbit network to deliver a new standard of connectivity across its mobility and defense business portfolio.
The LEO capacity from Telesat Lightspeed will be seamlessly integrated with Viasat’s ultra-high throughput satellites to offer customers fast, highly reliable, robust and cost-effective connectivity services. Those services will be backed by the industry’s most comprehensive Service Level Agreements (SLAs), promoting reliable broadband connections even in the highest demand geographic locations including hub airports, seaports, and other high traffic routes and locations.
The agreement is another step forward for Viasat’s multi-orbit network roadmap, which already serves government, maritime and energy services businesses, and is being expanded to incorporate all the company’s growth markets, including commercial aviation’s leading in-flight integrated connectivity and entertainment solutions.
Telesat Lightspeed is designed to be a highly advanced, flexible and resilient LEO constellation that is expected to enhance Viasat’s ability to deliver its customers a superior, multi-orbit, differentiated broadband connectivity solution.
VSAT shares slid 56 cents, or 6.3%, to $8.34, while those for TSAT weakened 14 cents to $16.48.
