Viasat, Space42 Commit Up to $1 Bln to Satellite Connectivity Venture

Viasat and UAE-based Space42 have partnered to establish Equatys, a satellite connectivity platform that aims to connect smartphones and devices directly to satellites. The two companies have committed up to $1 billion in equity, with an initial $400 million each and an additional $200 million from Space42 in a future funding round. The partnership aims to provide global satellite connectivity, bridging the gap in internet access in remote areas.