ViaSat Inc, which provides satellite and other wireless networking systems, has agreed to buy Wild Blue Communications Inc for more than $565 million, the Wall Street Journal reported, citing people familiar with the matter.
The paper said ViaSat plans to leverage the cash and stock transaction, expected to be announced on Thursday, to enter the volatile market of providing broadband services through satellites.
The paper said the deal was a combination of $440 million in cash and $125 million in newly issued Viasat common stock. The management of Wild Blue, which is owned by Liberty Media Corp, is expected to stay in place, it said.
ViaSat and Wild Blue Communications were not available to comment.
(Reporting by Biswarup Gooptu in Bangalore; Editing by Dan Lalor)