Home / Technology / Viasat, Space42 Launch $1B Satellite-to-Smartphone Venture
Viasat, Space42 Launch $1B Satellite-to-Smartphone Venture
14 Sep
Summary
- Viasat and Space42 partner to create Equatys platform.
- Equatys aims to connect smartphones directly to satellites.
- The venture involves a $1 billion equity commitment.
Viasat, a global communications company, and UAE-based Space42 have formalized an agreement to create Equatys. This new platform is engineered to enable direct satellite connectivity for smartphones and other personal devices.
The initiative involves a considerable financial backing, with an equity commitment of up to $1 billion. Both Viasat and Space42 are set to make an initial investment of $400 million each.
Furthermore, Space42 has committed an additional $200 million for a subsequent funding round. This strategic collaboration aims to redefine mobile connectivity by bridging the gap between terrestrial networks and satellite communication.
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