Space42 and Viasat Sign Binding Agreement to co-found Equatys, Creating the First Shared Space and Ground Infrastructure Platform for Global Direct-to-Device and Advanced MSS Connectivity

PARIS, Sept 14 (Bernama) -- Space42 (ADX: SPACE42), the UAE-based AI-powered SpaceTech company, and Viasat, Inc. (NASDAQ: VSAT), a global leader in satellite and secure communications, today announced the signing of an agreement at World Space Business Week in Paris to formally establish Equatys, a shared space and ground infrastructure platform that will support the extension of mobile coverage and overlay in the places terrestrial networks cannot serve, including in coverage gaps in populated metro areas. Upon the formation of Equatys, Space42 and Viasat will commit to an initial equity contribution of up to USD1 billion.

Development of the initial constellation accelerates with the simultaneous signing of an agreement to step-up joint funding. Upon formation of Equatys, Viasat is expected to be appointed as the company’s prime technology contractor.