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June 9, 2014
13:14 EDTVSATViaSat extends WiFi capabilities with NetNearU acquisition
ViaSat expanded its ability to deliver high-speed satellite services and Internet access with the acquisition of privately-held NetNearU. 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 FY15. However, ViaSat has not completed its valuation analysis and, accordingly, has not determined the impact to GAAP earnings.
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