Viasat Bags Multi-year Contract From NASA Worth $4.82 Bln, Pre-Market Stock Up Over 6%

(RTTNews) - Viasat, Inc. (VSAT), a provider of high-speed satellite broadband services and secure networking systems, announced on Tuesday that it has been selected by NASA to support direct-to-Earth capabilities via the near space network services contract.

This is part of a five-year multi-award indefinite delivery, indefinite quantity contract program with an option to extend five years at a total value of $4.82 billion.

Initially, Viasat will provide global ground segment support services to NASA missions, with the potential to provide additional services in the future.

The National Aeronautics and Space Administration's near space network services contract will provide commercial ground and space relay services for future NASA missions from low Earth orbit to two million kilometers from Earth. As part of the contract, Viasat's Defense and Advanced Technologies business will join other commercial providers in supplying DTE connectivity to current and planned NASA space missions.

VSAT was up by 6.30 percent at $9.44 in the pre-market trade on the Nasdaq.