Loral Space & Communications Acquires Satellite Capacity on ViaSat-1 in Order to Provide Telesat Canada with Advanced Broadband Capability in Canada
Loral Space & Communications (NASDAQ:LORL) today announced that its subsidiary, Space Systems/Loral, was selected to provide a high capacity broadband satellite for ViaSat Inc. (NASDAQ:VSAT) . ViaSat-1 is expected to be the world’s highest capacity broadband satellite.
Loral also announced that it is investing in the Canadian coverage portion of the satellite in anticipation of Telesat Canada (which is 64 percent owned by Loral) utilizing the capacity for Canadian services. The satellite is planned for Telesat’s 115 West longitude orbital slot and Telesat will also provide telemetry, tracking & control (TT&C) operations for the satellite.
“A major reason we chose to work with Space Systems/Loral is SS/L’s significant experience with Ka-band technology,” said Mark Dankberg, chairman and CEO of ViaSat. “Loral has been very successful in delivering broadband satellites that are providing high-speed access right now in North America and in Asia. We are very pleased to have a company with SS/L’s long history of reliability and great performance on our team.”
The new spacecraft is scheduled to launch in 2011 and is expected to provide more than 15 years of service life. It employs SS/L’s space-proven 1300 platform and high-capacity Ka-band spot beam technology to ultimately service more broadband users at faster data rates than any previous satellite.
ViaSat-1 involves a collaborative effort between ViaSat, Loral, Telesat and Eutelsat, which is working with ViaSat on the networking system and a common wholesale business model that works through existing ISPs, telecommunication companies, and pay TV providers to serve subscribers. “We are very pleased to have been chosen to work with the ViaSat and Eutelsat teams, which already have a track record of providing broadband services in North America and Europe,” said Michael Targoff, chief executive officer of Loral Space & Communications. “ViaSat-1 represents a breakthrough design in broadband satellite capacity and we look forward to being part of the team that makes this service available in Canada as well as the United States.
About ViaSat
ViaSat produces innovative satellite and other digital communication products that enable fast, secure, and efficient communications to any location. The company provides networking products and managed network services for enterprise IP applications; is a key supplier of network-centric military communications and encryption technologies to the U.S. government; and is the primary technology partner for gateway and customer-premises equipment for consumer and mobile satellite broadband services. The company has five subsidiaries: US Monolithics, Efficient Channel Coding, Enerdyne Technologies, Intelligent Compression Technologies and JAST. These companies design and produce complementary products such as monolithic microwave integrated circuits, DVB-S2 satellite communication components, video data link systems, data acceleration and compression products, and mobile satellite antenna systems. ViaSat has locations in Carlsbad, CA, and Duluth, GA, along with its Comsat Laboratories division in Germantown, MD. Additional field offices are located in Boston, MA, Baltimore, MD, Washington DC, Australia, China, India, Italy, and Spain.
About Loral Space & Communications
Loral Space & Communications is a satellite communications company. Through its Space Systems/Loral subsidiary, the company is a world-class leader in the design and manufacture of satellites and satellite systems for commercial and government applications including direct-to-home television, broadband communications, wireless telephony, weather monitoring and air traffic management. Loral also owns 64 percent of Telesat Canada, one of the world’s largest providers of satellite services. Telesat Canada operates a fleet of telecommunications satellites used to broadcast video entertainment programming, distribute direct-to-home video and broadband data services, and other value-added communications services. For more information, visit Loral’s web site at www.loral.com. This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition, Loral Space & Communications Inc. or its representatives have made or may make forward- looking statements, orally or in writing, which may be included in, but are not limited to, various filings made from time to time with the Securities and Exchange Commission, press releases or oral statements made with the approval of an authorized executive officer of the company. Actual results could differ materially from those projected or suggested in any forward-looking statements as a result of a wide variety of factors and conditions. Many of these factors and conditions are described under the caption “Risk Factors” in each of the company’s annual report on Form 10-K for the fiscal year ended December 31, 2006 and its quarterly reports on Form 10-Q for subsequent periods. The reader is specifically referred to these documents, as well as the company’s other filings with the Securities and Exchange Commission.
