Sept 14 (Reuters) – Viasat and UAE-based Space42 said on Monday they signed an agreement to establish Equatys, a platform that aims to connect smartphones and other devices directly to satellites, and committed up to $1 billion in equity.
Under the agreement, Space42 and Viasat will each make an initial $400 million commitment, with Space42 expected to invest an additional $200 million in a future funding round, the companies said.
(Reporting by Harishankar Manoj in Bengaluru; Editing by Sherry Jacob-Phillips)
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