Shareholders at Viasat (Nasdaq: VSAT) approved the company’s proposed acquisition of Inmarsat that is expected to conclude in the second half of 2022, pending regulatory clearances and other customary closing conditions.
Richard Baldridge, president and CEO of Viasat, said in a statement released Tuesday the approval by Viasat shareholders marks their confidence in the pending combination and its vision to bring future growth in free cash flow, revenue and earnings before interest, taxes, depreciation and amortization while advancing broadband communications for customers.
In November, Viasat agreed to buy U.K.-based satellite services provider Inmarsat for about $3.9 billion in cash and stock as part of efforts to provide a global hybrid network for government and enterprise communications.
