Yahoo Finance ViaSat (VSAT) Expands Telespazio's IoT Connectivity Services
ViaSat Inc. VSAT recently announced that Telespazio, a major global supplier of satellite solutions and communication services has opted to join the ViaSat ELEVATE program. The partnership aims to provide high-performance connectivity and support remote IoT applications across a wide array of industries, including agriculture, energy and mining operations.
The ELEVATE program is designed for IoT solution providers, enablers and enterprises of any size who have developed an innovative digital product and intend to scale their businesses using VSAT’s extensive network and footprint. In addition to offering access to its satellite and IoT solution suite, ViaSat provides technical guidance, go-to-market strategies, and greater exposure through its distribution channels.
Based in Italy, Telespazio is heavily involved in major space programs, specializing in satellite launch management, in-orbit control services, Earth observation services, integrated and hybrid communication, satellite navigation and more. Through this program, Telespazio will utilize the ViaSat L band network to deliver enhanced IoT and satellite connectivity services to its clientele.
Access to the ELEVATE marketplace will allow Telespazio to venture into new markets and attract clients from areas with limited connectivity. Moreover, ViaSat’s broader partner network will bring new collaboration opportunities and facilitate the development of niche communication solutions for its customers.
The ELEVATE program targets a broad range of industries, including agriculture, energy, mining, transport, utilities and more. The incorporation of a prominent player in the space industry like Telespazio underscores the growing traction of the ELEVATE program across various sectors. The expansion of VSAT’s partner ecosystem will drive the development of cutting-edge IoT and satellite solutions and address the connectivity needs of diverse industries. This will extend ViaSat’s global presence and boost its commercial prospects.
ViaSat is ramping up investments in the development of its revolutionary ViaSat-3 broadband communications platform, which will have nearly 10 times the bandwidth capacity of ViaSat-2. The ViaSat-3 platform will help to form a global broadband network with sufficient network capacity to allow better consumer choices with an affordable, high-quality, high-speed Internet and video streaming service. However, intense competition in the Satellite Service segment remains a concern for the company.
The stock has lost 68.9% over the past year against the industry's growth of 40.3%.
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