GLOBAL communications company Viasat is working to acquire Inmarsat, which provides global mobile satellite communications services.
Inmarsat says it is working to enable the digitalisation of the maritime industry, making operations more efficient and safer.
The UK’s Competition and Markets Authority (CMA) has concluded its Phase II review of the deal, which confirmed its provisional findings that the transaction would not raise competition concerns. The decision allows Viasat’s proposed acquisition of Inmarsat to proceed without remedies.
The proposed transaction has now received clearance from the UK government under the National Security and Investment Act and the CMA, as well as the Australian government’s Foreign Investment Review Board and the Committee on Foreign Investment in the US.
Viasat chairman Mark Dankberg said the CMA’s decision to unconditionally clear the deal to acquire Inmarsat represents a critical step in securing final approvals to complete this transaction.
“The decision validates our position that the combination of our two companies will strengthen competition in a dynamic market that continues to attract substantial levels of investment and enables us to offer better services to our customers,” he said.
“Additionally, this deal will also create new high-skill technology jobs, deepen Viasat’s capabilities in the UK, and ultimately help to deliver the goals of the UK’s National Space Strategy.”
