Benzinga - by Zacks, Benzinga Contributor.
Viasat, Inc. (NASDAQ: VSAT) recently announced that it has collaborated with Grupo Tesacom to provide satellite communication services across Latin America. The collaboration, announced as part of Viasat's ELEVATE program, aims to solve connectivity issues for industries and governments engaged in remote operations.
ELEVATE program offers a broad choice of satellite connectivity and Internet of Things (IoT) solutions to improve business efficiency and promote sustainability. It also provides companies a reliable, secure and cost-effective communication solution to address some of the biggest challenges they face today. Businesses of any size, including new entrants, disruptors or established brands who have developed an innovative digital product or service, can join the program to meet any kind of critical connectivity needs.
Based in Argentina, with offices across Latin America, Grupo has a long history of delivering satellite connectivity for industrial operations in the region. It currently offers a comprehensive suite of hybrid connectivity solutions, including satellite communication, software development and data airtime plans.
With this collaboration, Grupo will have access to Viasat's global L-band network to provide advanced IoT and satellite connectivity services. This expansion is likely to strengthen Grupo's ability to assist major projects across industries such as energy, mining, oil & gas, logistics and agriculture. Apart from gaining access to Viasat's broader partner network, Grupo is also expected to supply tailored voice and data solutions to the government, defense and humanitarian aid organizations.
Such collaborations will likely help Viasat expand its satellite business to meet the growing global connectivity demands across diverse industries and underserved regions. This, in turn, is likely to attract new customers to boost its revenue growth in the coming quarters.
Shares of Viasat have lost 64.9% over the past year against the industry's growth of 48.1%.
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Zacks Rank and Key Picks Viasat currently carries a Zacks Rank #3 (Hold).
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