ViaSat Sells Shares as Part of WildBlue Deal

12/24/09Follow @bvbigelow

ViaSat (NASDAQ: VSAT), the Carlsbad, CA-based satellite communications company raised $133 million in equity funding in December, according to a recent filing with the Securities and Exchange Commission. ViaSat spokesman Bruce Rowe tells me the company issued about 4.3 million shares for the stock component of the company’s $568 million stock-and-cash purchase of Colorado’s WildBlue Communications, the high-speed Internet service provider. That deal was announced in October and closed Dec. 15.

In an interesting reprise of “meet the new boss, same as the old boss,” ViaSat named senior vice president Tom Moore to head the company’s new WildBlue subsidiary. Moore co-founded WildBlue in 1998 and served as the company’s CEO until 2005 and as a director until 2008.

ViaSat, founded in 1986, specializes in satellite-based communications and other digital communication products. The company has 2,100 employees and reported sales of $628 million in the fiscal year that ended in April. ViaSat CEO Mark Dankberg has said the company’s acquisition of WildBlue, a longtime business partner, is key to helping ViaSat reduce the business risk of its planned satellite venture. ViaSat said last year it planned to build and launch its own $450 million communications satellite to provide high-speed Internet service.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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  • Nancy Harrison

    Dear Sirs,
    While I feel your system is a good value for those of us who live in the middle of no where, your communication from sales and service to accounting leaves something to be desired. I have had nothing but trouble with your billing. In Aug. we had a problem with the dish. We were told on the 20th of Aug that we would not have to pay for a service call. (as new customers we were still covered) The tech. told us we would not have to pay for a service call, our salesman told us we would not have to pay for a service call…you are charging me a service call. We live modestly. My husband farms. Long hours little pay. We don’t mind until some one steels from us…then we have a problem. I paid my bills, now your fee will over draw my account and it is two weeks before my husband gets paid again…we need to be able to accept the billing amount before you take our money. I do not like that the only way to pay this bill is that you take it. We do not owe $98.78, but you are taking it and costing me Lord knows how much in overdraft fees. Oh, I was told I was getting a month free, because the original instal was done wrong, that too is not hapening, there is no free month. Getting money back next month or over the next two months will not due. I do not want you to take my money now! It seems to me if you can take it, you can give it back….so give my money back. And then stick to the agreements your reps make…if they would have said that they would charge me then I would have not bought groceries so as to have the money in the bank to cover the service charge…your billing system is broken, it needs fixed. I have never had this much trouble getting a refund when it was the companies mistake.
    I hope this gets fixed, soon.
    N Harrison