Space42, Viasat Agree To Co-found Equatys With $1 Bln Commitment
(RTTNews) - Space42 (SPACE42), the UAE-based AI-powered Space tech company, and Viasat, Inc. (VSAT), a satellite and secure communications company, Monday announced that they have agreed to formally establish Equatys, a shared space and ground infrastructure platform.
This announcement follows the September 2025 intimation of their intention to form Equatys.
Equatys is expected to support the extension of mobile coverage and overlay in places where terrestrial networks cannot serve, including coverage gaps in populated metro areas. The company is being established as global demand for satellite-enabled mobile connectivity accelerates.
"Equatys is designed to support the connection of smartphones, IoT devices, and other devices and terminals directly to satellites, giving mobile operators a way to offer voice, text, and data where cellular networks are otherwise unavailable or have low density.", the companies said in a statement.
Space42 and Viasat will each commit to an initial equity contribution of $400 million, which is anticipated to increase to an additional $200 million from Space42 in connection with a future equity funding round open to third-party investors, bringing the two parties' total equity contributions to up to $1 billion at the time of Equatys establishment.
Equatys funding is surmised to come from a combination of founders' equity, third-party equity and debt financing sources.
Further, Viasat expected to be appointed as the company's prime technology contractor.
On Friday, Viasat shares closed at $74.31, up 0.18% on the Nasdaq.
