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The Abu Dhabi-listed space tech firm Space42, and the Nasdaq-listed US communications company Viasat, plan to launch Equatys, a jointly held entity, to enable direct to device and mobile satellite services across the globe.
Financial details of the deal have not been disclosed. However, from an investment perspective, phased equity offerings are on the plan, according to a statement. The venture is expected to benefit from agreements that make 5G New Radio (NR)-capable, and ground infrastructure available at a low cost to regional and global licensed operators.
Equatys is expected to unite satellite and terrestrial networks accessible to standard smartphones and IoT devices, with a commercial rollout planned in three years.
Space42, which was formed in 2024 following the merger of two ADX-listed companies, Bayanat and Al Yah Satellite Communications Company. Major shareholders include G42, Mubadala, and IHC.
(Writing by Bindu Rai, editing by Daniel Luiz)
