CARLSBAD, Calif., May 22, 2017 /PRNewswire/ -- ViaSat Inc. (NASDAQ: VSAT), a global broadband services and technology company, announced today it received a contract from The Boeing Company (NYSE: BA) to deliver its KOR-24A Small Tactical Terminals (STT) for integration onto Boeing's AV-8B Harrier attack aircraft for United States Marine Corps (USMC) and international customers. The contract is worth approximately $20M including exercisable options.
The STT was competitively selected as providing the best value to Boeing and its U.S. Government customer based upon its capability, product maturity and proven reliability as the only small form factor Link 16 and Soldier Radio Waveform (SRW) capable aviation terminal fielded in the world. The STT will enable the USMC's Harriers to better coordinate their activities with other U.S. and allied aircraft as well as with U.S. and allied ground forces using both Link 16 and SRW networks in order to more rapidly engage enemy targets and to do so with reduced risk of fratricide or collateral damage.
"Being selected by Boeing to provide the Link 16 radio for the AV-8B is another big milestone for us," said Ken Peterman, president, Government Systems, ViaSat. "It is further evidence of the value of our STT product as well as our commercial approach to developing products to provide our warfighters with the capability they need to address their critical gaps with little or no investment necessary by the government customer. This order from Boeing for the Harrier increases the quantities of STTs either in the field or on order to well over 1,200 units; and we anticipate a market with at least several thousand additional units to follow."
ViaSat, Inc. (NASDAQ: VSAT ) keeps the world connected. As a global broadband services and technology company, ViaSat ensures consumers, businesses, governments and military personnel have communications access - anywhere - whether on the ground or in-flight. The Company's innovations in designing highest-capacity satellites and secure ground infrastructure and terminal technologies coupled with its international network of managed Wi-Fi hotspots enable ViaSat to deliver a best available network that extends the reach and accessibility of broadband internet service, globally. For more information visit ViaSat at: www.viasat.com, or follow the Company on social media: Facebook, Twitter, LinkedIn and YouTube.
This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Forward looking statements include statements about the cost savings to the U.S. government and awards for future STTs. Readers are cautioned that actual results could differ materially from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: contractual problems, product defects, manufacturing issues or delays, regulatory issues, technologies not being developed according to anticipated schedules, or that do not perform according to expectations; and increased competition and other factors affecting the government and defense sectors generally. In addition, please refer to the risk factors contained in ViaSat's SEC filings available at www.sec.gov, including ViaSat's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. ViaSat undertakes no obligation to update or revise any forward-looking statements for any reason.
Copyright © 2017 ViaSat, Inc. All rights reserved. All other product or company names mentioned are used for identification purposes only and may be trademarks of their respective owners. ViaSat is a registered trademark of ViaSat, Inc.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/boeing-taps-viasats-small-tactical-terminal-for-the-us-marine-corps-av-8b-harrier-attack-aircraft-program-300461175.html
SOURCE ViaSat, Inc.