Viasat, Space42 commit $1 billion for direct-to-device JV Equatys

NEW DELHI: California-based Viasat and UAE satellite operator Space42 announced a joint venture, Equatys, with an equity commitment of up to $1 billion. The platform is designed to connect smartphones and other Internet-of-Things (IoT) devices directly to satellites, enhancing connectivity in areas with limited or no cellular coverage.

Initially, Viasat and Space42 will each contribute $400 million, with Space42 expected to invest an additional $200 million in a future funding round. Viasat is slated to be the primary technology contractor for Equatys once the joint venture is formally established.