Friday, August 20, 2010
ViaSat Gets Stimulus Grant
Carlsbad-based ViaSat, which develops satellite communications products, said this week that its subsidiary, WildBlue Communications, has been awarded $19.5M in grant funding, from the Department of Agriculture Rural Utilities Service. The funding comes from the American Reinvestment and Recovery Act of 2009. WildBlue said the funding will go to activate new subscribers on its satellite broadband services. ViaSat said the firm co-applied with DIRECTV and DISH on the grant. ViaSat bought WildBlue in October of 2009, using funding from Liberty Media, Intelsat, Tennenbaum Capital Partners, the National Rural Telecommunications Cooperative, and Kleiner Perkins Caufield & Byers.