Viasat Awarded MIDS-LVT Block Upgrade 2 Retrofit Order
CARLSBAD, Calif., July 24, 2018 - Viasat Inc. (Nasdaq: VSAT), a global communications company, announced today it was awarded a six-year Indefinite Delivery/Indefinite Quantity (ID/IQ) contract in May 2018 from the U.S. Government valued at up to $85.5 million for Block Upgrade 2 (BU2) hardware and software upgrades and support services to their Multifunctional Information Distribution System-Low Volume Terminal (MIDS-LVT) Link 16 radio sets. The order is the result of a sole source procurement through the Space and Naval Warfare Systems Command (SPAWAR), San Diego, Calif. The order adds modernized Link 16 communications capability for U.S. Army, Navy, Marines and selected Foreign Military Sales (FMS) Customers. Initial delivery orders under the contract total $22 million.
"Viasat is extremely pleased to receive this sole source award to deliver enhanced Link 16 capability to U.S. and allied forces," said Ken Peterman, president, Government Systems, Viasat. "This order reflects the U.S. Government's commitment to maintaining the long-term viability of MIDS-LVT radios deployed worldwide, which will ensure continued tactical data link capability and interoperability with Link 16 equipped platforms and warfighters into the future."
Link 16 provides real-time situational awareness and jam-resistant communications across hundreds of air, sea, and ground platforms in nearly fifty coalition countries; offering true interoperability and real-time exchange of battlespace information, increasing mission effectiveness and warfighter safety.
MIDS-LVT forms the backbone of the Link 16 network across the U.S. Department of Defense (DoD) and the international coalition. BU2 capabilities ensure that MIDS-LVT terminals remain interoperable with platforms that utilize other modernized Link 16 terminals, such as the MIDS Joint Tactical Radio System (JTRS) family of terminals and Viasat's Small Tactical Terminal and Handheld Link 16 radios which are enabling new concepts of operation and warfighter tactics throughout the U.S. DoD and International Coalition Defense Forces.
Viasat is a global communications company that believes everyone and everything in the world can be connected. For more than 30 years, Viasat has helped shape how consumers, businesses, governments and militaries around the world communicate. Today, the Company is developing the ultimate global communications network to power high-quality, secure, affordable, fast connections to impact people's lives anywhere they are—on the ground, in the air or at sea. To learn more about Viasat, visit: www.viasat.com, go to Viasat’s Corporate Blog, or follow the Company on social media at: Facebook, Instagram, LinkedIn, Twitter or YouTube.
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 the ID/IQ contract, including the total award amount; the capabilities and compatibility of the MIDS-LVT radios and Link 16 network; and SPAWAR's use of Viasat's technology for BU2 hardware and software upgrades and support services to SPAWAR's MIDS-LVT Link 16 radio sets. 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: contractual problems, product defects, manufacturing issues or delays, regulatory issues, technologies not being developed according to anticipated schedules, or that do not perform according to expectations; and increased competition and other factors affecting the government sector generally. 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.
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