Connectivity providers hit hard by the COVID-19 crisis are accelerating diversification strategies through M&A. With recovering markets and global expansion coming up on the horizon, satellite broadband operator Viasat is buying secure network solutions provider RigNet in a US$222m all-stock deal.

It comes after the pandemic has battered the share prices of both companies this year. The lack of travel has dented inflight connectivity revenues for Viasat, while lower oil & gas demand has hit the energy segment for RigNet. Viasat shares have...

More funding routes are increasing flexibility and competition for incoming satellite broadband constellations, with Telesat’s plan to go public adding more certainty for its LEO ambitions.

But even as a new breed of SPAC offers a fast-track to recovering stock markets, the satellite industry is unlikely to see a major shift to public funding sources as alternatives...