FX.co ★ Viasat Bags Multi-year Contract From NASA Worth $4.82 Bln, Pre-Market Stock Up Over 6%

Viasat, Inc. (VSAT), renowned for its high-speed satellite broadband and secure networking solutions, announced on Tuesday its selection by NASA to bolster direct-to-Earth capabilities under a near space network services contract.

This initiative is encompassed within a multi-award, indefinite delivery, indefinite quantity contract spanning five years, with a potential five-year extension, cumulatively valued at $4.82 billion.

To start, Viasat will deliver global ground segment support for NASA missions, with opportunities to expand its service offerings in the future. The contract will ensure commercial ground and space relay services for NASA's forthcoming missions, reaching from low Earth orbit to distances of two million kilometers from Earth. Through this agreement, Viasat's Defense and Advanced Technologies division will collaborate with other commercial entities to provide DTE (Direct-To-Earth) connectivity for current and anticipated NASA missions.

In pre-market trading on Nasdaq, VSAT shares rose by 6.30%, reaching $9.44.