Viasat, Space42 commit $1 billion for direct-to-device JV Equatys
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.
Equatys will integrate satellite and terrestrial networks through a non-terrestrial network (NTN) platform. This will enable mobile operators to offer voice, text, and data services across broader regions. The platform is also intended to operate a shared satellite and ground network for multiple telecom and satellite operators, potentially lowering costs, accelerating deployment, and expanding coverage without requiring separate infrastructure.
The venture, first unveiled in March 2025, has since undergone technical and commercial studies for shared NTN infrastructure. Funding for Equatys is anticipated to come from a combination of founders’ equity, third-party equity, and debt.
The companies, in a joint statement, said that they cumulatively have commercial relationships with more than 400 mobile operators worldwide and access to the largest amount (>100MHz) of globally coordinated MSS spectrum available for D2D deployment, creating a uniquely scalable foundation for growth.
The initial constellation is the first phase of an architecture designed to scale to 2,800 satellites across 60 orbital planes and three altitude layers, enabling densification without redesign as demand grows.
The JV company’s funding is expected to come from a combination of founders’ equity, third-party equity, and debt financing.
Karim Michel Sabbagh, MD of Space42, said, “With the signing of this agreement, Equatys takes off. For the first time, the satellite industry is building infrastructure the way the mobile industry thinks: shared, interoperable, standards-based, and designed for billions of devices rather than millions of subscribers.”
“We are creating a new infrastructure category for global D2D and advanced MSS connectivity, backed by unique spectrum assets, significant committed capital, and a business model proven to scale in the mobile industry. Finalising the formation of Equatys reflects our collective confidence in the strategic value and long-term financial merits of this venture to support a rapidly growing non-terrestrial market for emerging D2D NTN and advanced Mobile Satellite Services,” said Mark Dankberg, chairman and CEO of Viasat.
