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Viasat (VSAT) to Bring High-Quality Internet Service to Nigeria

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Viasat, Inc. (VSAT - Free Report) has secured a full suite of operating licenses — Internet Service Provider license, VSAT license and three Earth Stations in Motion licenses — from the Nigerian Communications Commission (“NCC”).

This Carlsbad, CA-based communications company aims to bring high-quality satellite Internet connectivity to Nigerian communities where adequate service is currently unavailable.

The NCC allowed Viasat multiple licenses to operate within the 28GHz Ka-band satellite frequency band. Viasat is now well positioned to expand its satellite-based Internet connectivity service to more regions across Africa.

It is worth noting that the company has achieved this remarkable feat ahead of the launch of ViaSat-3, its ultra-high-capacity global satellite constellation comprising three communications satellites. A ViaSat-3 satellite, which will serve Africa as well as Europe and the Middle East, is scheduled for launch in 2022.

Viasat holds a leadership position in the satellite and wireless communications market. Its Satellite Services business is progressing well, driven by subscriber demand for broadband coupled with growth in video streaming.

The company has already completed the rollout of its residential Internet service to all the states of Brazil. It continues to make progress on its ViaSat-3 global constellation amid challenges posed by the pandemic.

Viasat recently completed the acquisition of RigNet, Inc. — a leading provider of intelligent networking solutions. The buyout is likely to accelerate Viasat’s strategy to provide high-quality, affordable broadband connectivity to the hardest-to-reach locations around the globe.

Viasat’s shares have gained 36.9% in the past six months against 0.1% decline of the industry. The company delivered a trailing four-quarter earnings surprise of 190.9%, on average.

The stock currently carries a Zacks Rank #2 (Buy) and has a VGM Score of B.

Some other top-ranked stocks in the broader industry are United States Cellular Corporation (USM - Free Report) , Vicor Corporation (VICR - Free Report) and Altice USA, Inc. (ATUS - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

U.S. Cellular delivered a trailing four-quarter earnings surprise of 123.9%, on average.

Vicor delivered a trailing four-quarter earnings surprise of 80.6%, on average.

Altice delivered a trailing four-quarter earnings surprise of 61.5%, on average.

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