Viasat, Space42 Agree to Form Equatys With Up to $1 Billion Equity Commitment

03:44 AM EDT, 09/14/2026 (MT Newswires) -- Viasat (VSAT) and UAE-based Space42 have entered a binding agreement to form Equatys, a shared satellite and ground infrastructure platform, with up to $1 billion in initial equity, the companies said Sunday. Under the agreement, Viasat and Space42 will each contribute $400 million initially, with Space42 expected to invest an additional $200 million in a future funding round open to third-party investors, the companies said. Viasat is expected to serve as prime technology contractor, with development of the initial satellite tranche to be awarded upon the formation of Equatys, they said. Equatys will provide a shared layer of satellites and ground infrastructure that mobile and satellite operators can use while retaining their own spectrum rights, customers and commercial relationships, they said in a joint statement. The initial constellation is designed as the first phase of an architecture that could scale to 2,800 satellites across 60 orbital planes and three altitude layers, the companies said. The venture's formation, constellation procurement and definitive agreements remain subject to customary closing conditions.