Viasat and Space42 commit up to $1 billion to Equatys
Viasat (VSAT) and Space42 agreed to establish Equatys, a direct-to-device platform connecting smartphones and other devices to satellites, and committed up to $1 billion in equity to the venture.
California-based Viasat NASDAQ:VSAT and UAE satellite operator Space42 ADX:SPACE42 said on Monday they have agreed to set up Equatys, a direct-to-device platform designed to connect smartphones and other devices with satellites. The companies also committed up to $1 billion in equity to the venture.