ViaSat Inc. has acquired privately-held NetNearU Corp. With this acquisition ViaSat has expanded its ability to deliver high-speed satellite services and internet access. NetNearU has developed a comprehensive network management system for Wi-Fi and other internet access networks that can extend ViaSat Exede services to a growing base of subscribers for multiple markets, including commercial airlines, live events, hospitality, enterprise networking and government broadband projects. Operating as a wholly-owned subsidiary, NetNearU will retain its Bryan/College Station, Texas location—also establishing a ViaSat presence in Texas. The transaction is expected to be accretive to ViaSat non-GAAP (pro forma) earnings for fiscal year 2015. However, Via
Sat has not completed its valuation analysis and, accordingly, has not determined the impact to GAAP earnings.
“Wi-Fi is an increasingly important way to access broadband networks and cloud services,” said Mark Dankberg, ViaSat chairman and CEO.
“NetNearU’s breadth and depth in Wi-Fi expertise gives us important new ways to deliver more value and convenience from our networks.”
NetNearU provides an easy to deploy, technology-agnostic system for managing public Wi-Fi and other wireless Internet access networks including hotspots, enterprise, campus, and metro installations. NetNearU TRACKOS® software provides automated and real-time provisioning, authentication, billing, roaming, quality of service, advertising, network monitoring, and support. With TRACKOS, NetNearU provides cloud-based, white-labeled Wi-Fi software and managed services for wireless carriers, cable operators, the U.S. military, and other customers.
“With the combination of transformational ViaSat services and the NetNearU Wi-Fi system, we can deliver a new level of performance in Internet access for consumer, business, and government customers. We are enthusiastic about joining the ViaSat team, and we fit well with their entrepreneurial spirit and technical expertise,” said Cody Catalena, NetNearU president and CEO.
Latham & Watkins LLP served as legal adviser to ViaSat. William Blair & Company LLC served as the financial advisor and Winstead PC as the legal counsel to NetNearU.