VIASAT GROUP acquired by TARGA TELEMATICS

The acquisition of Viasat Group by Targa Telematics is a strategic move aimed at creating a leading global player in the IoT and digital solutions market for connected mobility. The deal is expected to strengthen Targa Telematics' position in the Italian market and accelerate its European expansion, while also enhancing its capabilities in the development and implementation of innovative electronic solutions. The integration of Viasat Group's operations is anticipated to drive significant synergies, particularly in the areas of research and development, sales and marketing, and operational efficiency. The combined entity will have a strong presence in eight European countries, as well as a presence in Chile, and will be well-positioned to capitalize on the growing demand for connected mobility solutions. The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to be completed in the first half of 2023. The strategic rationale behind the deal is to create a global leader in the IoT and digital solutions market, with a comprehensive portfolio of products and services that cater to the evolving needs of the automotive and mobility sectors. The acquisition is expected to drive significant revenue growth, improve profitability, and enhance the combined entity's competitive position in the global market.