Satellite communications company Viasat has taken a leap into the maritime space with a $7.3bn takeover of UK-headquartered Inmarsat.
The transaction will see California-headquartered outfit offer $850m in cash and 46.3m shares worth an estimated $3.1bn to merge with Inmarsat. It will also assume $3.4bn in the London-based company's debt.
Inmarsat is a leading name in providing satellite communications to the shipping space, with some 130,000 vessels as safety customers and 41,000 ships connected to its broadband services.
