VSAT - Viasat Inmarsat reach commitments deal with UK for merger

Viasat (VSAT +0.6%) and Inmarsat have come to a deal with the UK government meant to grease the wheels toward the combination of the two satellite companies. In the deal, which involves commitments ranging for 3-5 years, the companies commit to increase research and development spending in the UK by 30%, to use UK suppliers, and to maintain core operations and ownership of Inmarsat's current fleet in the UK. They're also committing to preserve Inmarsat's brand with a focus on maritime customers; create a UK board with authority over key strategic decisions; and build a global international business headquarters in London. Viasat will also maintain a previously announced plan to invest £300 million (about $395.6 million) in the UK over a 10-15 year period, with at least £75 million of that coming within five years of closing the deal. "We are fully committed to ensuring that our combination with Inmarsat

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Viasat, Inmarsat reach commitments deal with UK for merger