Viasat, Space42 Plan To Build 2,800-Satellite D2D Network Through New Venture Equatys

• Viasat is planned to serve as Equatys’ prime technology contractor upon Equatys' formation.
• The architecture can scale to 2,800 satellites across 60 orbital planes and three altitude layers.
• The founders bring relationships with 400+ mobile operators and access to more than 100 MHz of coordinated spectrum.

Viasat Inc (VSAT) and Space42 are putting up as much as $1 billion to build a new satellite infrastructure business, betting that direct-to-device connectivity will become a major market for satellite operators and mobile networks.

The companies signed a binding agreement Monday at World Space Business Week in Paris to establish Equatys, which will use a shared-infrastructure model similar to terrestrial tower companies.

VSAT, Space42 Commit Up To $1B

After Equatys forms, Space42 and Viasat will each commit an initial $400 million in equity. Space42's contribution is expected to grow by another $200 million tied to a future funding round open to third-party investors, bringing the companies' combined commitment to up to $1 billion.

VSAT stock fell up to 5% in Monday's premarket, at the time of writing.

How Equatys Will Work

Equatys will run on what the companies call a "Tower Company" model, sharing satellites and ground infrastructure among participating operators. Operators can retain their own spectrum licenses, customers and commercial relationships while sharing the underlying network.

The initial constellation's architecture is designed to scale to 2,800 satellites across 60 orbital planes and three altitude layers, allowing smartphones, Internet of Things IoT devices and other terminals to connect directly to satellites under 3GPP non-terrestrial network standards. 

Viasat is planned to serve as Equatys’ prime technology contractor upon formation.

Viasat and Space42’s Satellite Partnership 

Space42 and Viasat first disclosed funded technical and commercial studies of shared satellite infrastructure in March 2025, followed by a September 2025 announcement of their intent to form Equatys. Space42 holds coordinated L-band spectrum rights across more than 160 markets, while Viasat holds L-band rights globally and S-band rights in Europe.

The companies estimate that the global D2D satellite connectivity market could reach $30 billion to $70 billion by 2040. Viasat Chairman and CEO Mark Dankberg said the deal reflects the companies' confidence in Equatys' strategic value and long-term financial merits. 

What Retail Investors Think About VSAT Stock

Retail sentiment around VSAT stock remained "bullish" at the time of writing.

So far this year, VSAT stock has surged more than 97%, outperforming the benchmark S&P 500, which has risen nearly 12% during this period.

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