Viasat & Inmarsat Agree To Support The UK's National Space Strategy With Investment, Jobs

(RTTNews) - Viasat and Inmarsat have agreed on a package of economic undertakings with the UK Government's Department for Business, Energy and Industrial Strategy as part of the proposed combination. The companies said the agreement ensures their combination will be a strong contributor to the UK National Space Strategy. Viasat will also continue with its plan to invest 300 million pounds in the UK over a 10-15 year period, with a minimum of 75 million pounds within five years after the closing of the deal.

Rajeev Suri, Inmarsat CEO, said: "With this agreement, the combination of Inmarsat and Viasat will result in more highly-skilled jobs and R&D investment in the UK than Inmarsat could achieve on a standalone basis."

The Deed includes undertakings to: expand the number of highly skilled jobs in key areas; increase overall R&D spending in the country by 30% and create a UK R&D Centre of Excellence; maintain core satellite, network and cybersecurity operational capabilities in the UK; ensure continued ownership of Inmarsat's current satellite fleet by a UK company; preserve the use of the Inmarsat brand with a focus on the maritime segment; create a UK Board with approval authority over key strategic decisions for Inmarsat Group entities; and establish the global international business headquarters of the combined company in London.