Viasat Acquires LonoCloud
Carlsbad, CA – April 12, 2013 – Viasat Inc. (Nasdaq: VSAT), an innovator in satellite and other wireless networking systems and services, has acquired privately-held LonoCloud Inc., an early-stage company with expertise in cloud networking software. Viasat intends to integrate core components of the LonoCloud Platform as a Service (PaaS) product with the Viasat broadband network. LonoCloud employees will join Viasat’s broadband networking team.
“Adding this core technical capability to our broadband network will both enhance our existing offering as well as shorten development cycles for new service offerings,” said Mark Dankberg, Viasat chairman and CEO. “Further, we’re excited to add this talented team to our rapidly-growing broadband group.”
“Joining Viasat allows us to continue innovating in advanced cloud services with a company known for continued technical innovation,” said Neil Senturia, LonoCloud CEO.
LonoCloud is a privately-held company based in La Jolla, California that has developed an innovative, cloud-based service platform to support the “Internet of Things.” The software system contains sophisticated, distributed mesh algorithms that create a network foundation for enterprise services and applications to interact and communicate with one another (the “service fabric”). This next-generation cloud computing architecture runs as an overlay to enterprise network environments, enabling low-cost, distributed computing across multiple servers in the cloud. The LonoCloud service fabric provides real-time software updates for minimal operational disruption and downtime, as well as policy-driven scalability and dynamic configuration. Providing these capabilities as building blocks to distributed applications is key to high availability and resiliency at a global scale.
This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Forward looking statements include statements about integration of core components, enhancement of Viasat’s existing offering, and shortening development cycles for new service offerings. Readers are cautioned that actual results could differ materially from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: difficulty in integrating the LonoCloud business and operations in an efficient and effective manner; challenges in achieving strategic objectives, cost savings and other benefits expected from the acquisition; the risk Viasat’s markets do not evolve as anticipated and the technologies acquired do not prove to be those needed to be successful in those markets; the potential loss of key employees of the acquired business; the risk of diverting the attention of senior management from the operations of Viasat’s business; the risks of potential disputes concerning indemnities and other obligations that could result in substantial costs and further divert management’s attention and resources; the ability to successfully implement Viasat’s business plan for broadband satellite services on Viasat’s anticipated timeline or at all; and risks associated with the construction, launch and operation of Viasat’s satellites, including the effect of any anomaly, operational failure or degradation in satellite performance. In addition, please refer to the risk factors contained in Viasat’s SEC filings available at www.sec.gov, including Viasat’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. Viasat undertakes no obligation to update or revise any forward-looking statements for any reason.