Viasat, a global communications company, and Inmarsat, a leading global mobile satellite communications service provider, announced that the UK's Competition and Markets Authority (CMA) had concluded its Phase 2 review of their proposed acquisition. The CMA's findings confirm that the transaction does not raise any competition concerns, allowing the acquisition to proceed without any remedies.
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Multiple Approvals Secured
According to the statement, This clearance is a milestone towards the completion of the deal. Viasat's proposed acquisition of Inmarsat has now received clearance from the UK government under the National Security and Investment Act, as well as the Australian government's Foreign Investment Review Board (FIRB) and the Committee on Foreign Investment in the United States.
Viasat said, "They are delighted with the CMA's decision to unconditionally clear the deal to acquire Inmarsat, as it represents a critical step in securing final approvals to complete this transaction."
"This deal will also create new high-skill technology jobs, deepen Viasat's capabilities in the UK, and contribute to the goals of the UK's National Space Strategy. Both Viasat and Inmarsat appreciated the extensive review by the CMA and thanked them for their efforts."
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Additional Regulatory Approvals Pending
While this clearance is a major step forward, the companies still have other regulatory approvals to navigate. They will continue working through those processes and provide updates on the timing of the transaction's completion.
The acquisition of Inmarsat by Viasat is anticipated to bring together two prominent players in the communications industry, enabling enhanced competition and improved services for customers.
