CARLSBAD, Calif., Jan. 12, 2015 /PRNewswire/ -- ViaSat Inc. (NASDAQ: VSAT) is taking another step forward in the transformation of satellite broadband with the selection of SpaceX to launch ViaSat-2, the next generation of high-capacity broadband satellite. ViaSat-2 is scheduled for a late summer 2016 launch aboard a SpaceX Falcon Heavy from the Kennedy Space Center in Florida.
Falcon Heavy is the world's most powerful rocket, with the ability to lift more than twice the payload of the next closest launch vehicle at only one-third the cost. Falcon Heavy is an evolution of the flight-proven Falcon 9 that is used to launch commercial satellites as well as cargo missions to the International Space Station.
Beginning with ViaSat-1, ViaSat began a transformation of satellite communications into a network technology that can provide high-performance services competitive with terrestrial alternatives, rather than being merely a last resort. ViaSat-2 is designed to provide another leap ahead in broadband service quality for residential, mobile, and enterprise satellite services.
"One of the primary objectives for ViaSat-2, beyond higher speeds, is to offer more data with all of our service plans. That's what customers want from any wireless service," said Mark Dankberg, ViaSat chairman and CEO. "We can do that by building a network with lots more network capacity at a cost that will attract more customers, and that's what this new class of satellite is designed to do."
ViaSat-2 is expected to cover seven times the geographic area and offer twice the bandwidth economics advantage of ViaSat-1, which is already the highest capacity satellite in the world. Planned coverage includes North America, Central America, and the Caribbean basin. The satellite will also provide a bridge of coverage across the North Atlantic, connecting North America with high-capacity coverage in the UK and Europe for high-speed in-flight internet and other mobile services.
Now under construction by Boeing, ViaSat-2 will become the fourth satellite in the ViaSat fleet.
Since high-capacity satellite services were launched with Exede® Internet in January 2012, the technology has re-ignited satellite internet subscription growth and gained industry recognition for high-performance and innovation:
- February 2014 FCC report showed Exede Internet outperforming all other ISPs in delivering promised speeds for the second year in a row, with 90 percent of Exede subscribers receiving 140 percent or better of the advertised 12 Mbps speed during peak periods.
- 2013 World Technology Network Award for Communications Technology.
- Avion Best Achievement in Technology Award for its Exede In The Air in-flight connectivity.
- Guinness World Records title for world's highest capacity satellite.
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 among others, statements about the performance, capabilities and anticipated benefits of the ViaSat-2 satellite, expected capacity, service, speeds, coverage and other features of ViaSat-2, and the timing, cost, economics and other benefits associated therewith. 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: the ability to realize the anticipated benefits of the ViaSat-2 satellite, unexpected expenses or delays related to the satellite system, the ability to successfully implement ViaSat's business plan for broadband satellite services on ViaSat's anticipated timeline or at all, including with respect to the ViaSat-2 satellite system; risks associated with the construction, launch and operation of satellites used to supply these new services, including the effect of any anomaly, operational failure or degradation in satellite performance; negative audits by the U.S. government; continued turmoil in the global business environment and economic conditions; delays in approving U.S. government budgets and cuts in government defense expenditures; ViaSat's reliance on U.S. government contracts, and on a small number of contracts which account for a significant percentage of ViaSat's revenues; the ability to successfully develop, introduce and sell new technologies, products and services; reduced demand for products as a result of continued constraints on capital spending by customers; changes in relationships with, or the financial condition of, key customers or suppliers; reliance on a limited number of third parties to manufacture and supply ViaSat's products; increased competition and other factors affecting the communications and defense industries generally; the effect of adverse regulatory changes on ViaSat's ability to sell products and services; ViaSat's level of indebtedness and ability to comply with applicable debt covenants; ViaSat's involvement in litigation, including intellectual property claims and litigation to protect proprietary technology; and ViaSat's dependence on a limited number of key employees. 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.
About SpaceX (www.spacex.com)
SpaceX designs, manufactures, and launches the world's most advanced rockets and spacecraft. The company was founded in 2002 by Elon Musk to revolutionize space transportation, with the ultimate goal of enabling people to live on other planets. Today, SpaceX is advancing the boundaries of space technology through its Falcon launch vehicles and Dragon spacecraft. SpaceX is a private company owned by management and employees, with minority investments from Founders Fund, Draper Fisher Jurvetson, and Valor Equity Partners. The company has more than 3,000 employees in California, Texas, Washington, D.C., and Florida.
About ViaSat (www.viasat.com)
ViaSat creates satellite and other wireless networking systems that efficiently deliver the most bandwidth for fast, secure, and high-performance communications to any location for consumers, governments, enterprises, and the military. The company offers Exede services in North America, which feature ViaSat-1, the world's highest capacity satellite; worldwide mobile satellite services, including global tracking and messaging as well as high-speed in-flight internet; satellite broadband networking systems; Wi-Fi and other hotspot operations, support, and management systems; and network-centric military communication systems and cybersecurity for the U.S. and allied governments. ViaSat also offers communication system design and a number of complementary products and technologies. Based in Carlsbad, California, ViaSat employs over 3,300 people in a number of locations worldwide for technology development, customer service, and network operations.
Exede is a registered trademark of ViaSat Inc.
SOURCE ViaSat Inc.