ViaSat Inc. (NASDAQ: VSAT) said it has expanded its ability to deliver high-speed satellite services and Internet access with the acquisition of privately-held NetNearU Corp.
NetNearU has developed a comprehensive network management system for Wi-Fi and other Internet access networks that can extend ViaSat Exede services to a growing base of subscribers for multiple markets, including commercial airlines, live events, hospitality, enterprise networking and government broadband projects.
Operating as a wholly-owned subsidiary, NetNearU will retain its Bryan/College Station, Texas location–also establishing a ViaSat presence in Texas. The transaction is expected to be accretive to ViaSat non-GAAP (pro forma) earnings for fiscal year 2015. However, ViaSat has not completed its valuation analysis and, accordingly, has not determined the impact to GAAP earnings.
ViaSat creates satellite and other wireless networking systems that efficiently deliver the most bandwidth for fast, secure, and high-quality communications to any location for consumers, governments, enterprises, and the military. Based in Carlsbad, California, ViaSat employs over 3,100 people in a number of locations worldwide for technology development, customer service, and network operations.