FTC Grants ViaSat Permission to Bypass WildBlue Acquisition Waiting Period
November 2, 2009
The U.S. Federal Trade Commission (FTC) and the U.S. Antitrust Division of the Department of Justice granted ViaSat and WildBlue early termination privileges in connection with ViaSat’s acquisition of WildBlue to surpass the required waiting period mandated by federal law, ViaSat announced Oct. 30.
Despite the court’s approval to initiate a quicker acquisition process, the two companies said they continue to expect the transaction will close in the fourth quarter of ViaSat’s 2010 fiscal year, which ends April 2.
ViaSat announced it signed a definitive agreement to acquire WildBlue Communications in October for $568 million in cash. Following the close of the deal, WildBlue’s Ka-band broadband service will use capacity on the ViaSat-1 satellite, set for launch in early 2011, and ViaSat will integrate its ground network technology with WildBlue’s operational and distribution platform.