CARLSBAD, Calif. and
LIMA, Peru, Nov. 9, 2021 /PRNewswire/ -- Viasat
Inc. (NASDAQ: VSAT), a global communications company, and
Intercorp Perú Ltd., one of Latin
America's largest business groups focused on providing
financial, retail and education services, have entered into a
definitive agreement to bring digital and social inclusion to
communities in Latin America and
the Caribbean using Viasat's
proven satellite-enabled Community Internet system.
The two companies have been working together to assess
geographic markets and to develop the infrastructures, ecosystems,
business models and applications needed to successfully bring
high-quality connectivity to the hardest-to-reach communities.
"Intercorp has been a long-term partner that shares in our
vision to positively impact individuals, communities and nations
through technological innovation," said Rick Baldridge, Viasat's president and CEO. "Our
mission is to provide affordable, high-quality connectivity across
the globe. By working with Intercorp, we gain a strong local
partner that has depth and knowledge in the Latin American region,
bringing distribution and fulfilment services to our Community
Internet service. We believe Intercorp is the right partner to help
us achieve this mission in Latin
America."
The notion of bringing internet anywhere is of high value to
Intercorp. The Company has been looking for an internet service
provider partner that could scale connectivity in an
economically-sustainable way. This is because in addition to
providing a wide-range of financial, retail and education services
throughout Latin America,
Intercorp has also partnered with IDEO to create Innova Schools, a
best-of-breed school system in Peru, and to establish La Victoria Lab, an
innovation team whose purpose is to improve the lives of Peruvian
people through human-centered design. High-quality connectivity is
fundamental to expand opportunities in education.
Carlos Rodriguez-Pastor, chairman
of Intercorp said, "Viasat is a global leader in satellite
technology and has demonstrated its ability to bring
economically-challenged communities that were otherwise left behind
a scalable, sustainable and cost-effective connectivity solution.
Our agreement with Viasat, provides an opportunity to bring retail
and financial goods and services to new markets in Latin
America—while also bridging the digital divide and bringing new
digital skillsets that will enable people and communities to
flourish."
How the service works
The Viasat Community Internet
service uses a centralized satellite-enabled hotspot to connect to
a Viasat or partner satellite and deliver internet
service to communities that previously had little or no internet
connectivity. The Viasat Community Internet service seeks to
improve the quality of life of unserved and underserved
individuals, families and businesses by giving them better access
to online tools and resources across education, healthcare, food
production, financial services and security, to name a few markets,
while also promoting social inclusion.
Markets served
Under the terms of the Viasat/Intercorp
agreement, the satellite connectivity service will align with the
ViaSat-2 satellite footprint as well as future ViaSat-3 satellite
coverage over Latin America.
Initial coverage areas will include Jamaica, Guatemala and Honduras with parts of South America expected to be served once the
ViaSat-3 satellite is in service. Intercorp will provide additional
investment and local resources to speed the deployment, as well as
assist with distribution and fulfillment locally. The agreement is
initially focused on connecting the unconnected via Community
Internet yet envisions expansion opportunities into other vertical
markets across the region.
Local distribution partners
Viasat and Intercorp have
partnered with CBC, a multinational corporation of beverages that
operates in Central America, the
Caribbean and South America. CBC is most-widely recognized
as the oldest bottler of PepsiCo outside of the U.S. and is the
anchor PepsiCo bottler for nine markets in Latin America and the Caribbean, including Guatemala, El
Salvador, Honduras,
Nicaragua, Puerto Rico, Ecuador and Peru. Other strategic CBC alliance partners
include being the bottler for Ambev, the largest beer company in
the world and Beliv, one of the largest growing nutritional health
beverage companies in Latin
America.
In working with CBC as a regional distributor, Viasat/Intercorp
gain a strong distribution partner with deep market reach and
end-user insights. CBC will start distributing the connectivity
service in Guatemala and
Jamaica with expansion expected to
be aligned with the availability of satellite service across the
region.
Carlos Enrique Mata, executive
president, CBC noted, "As a multi-Latin beverage company operating
in 35 countries, with the largest portfolio in the region, we have
a highly-successful built-in distribution network that can quickly
bring quality internet service to the depth of Latin America. We're excited about our work
with Viasat/Intercorp as it allows us to further expand our service
capabilities while enabling us to create sustainable value and
high-quality experiences to customers."
About Intercorp Perú Ltd.
Founded in 1997, Intercorp
Perú Ltd., is a holding company for one of Peru's largest business groups. Focused on
Peru's growing middle class, it
provides a variety of services to satisfy consumers' evolving
preferences for modern goods and services. Through its
subsidiaries, the Company is engaged in financial services
(banking, insurance, wealth management, etc.); retail (shopping
malls, supermarkets, pharmacies, etc.) and education (university,
technical and K to 12 education services) through its principal
holding companies, Intercorp Financial Services ("IFS.LM"), and
Intercorp Retail, together with InLearning, its educational
platform.
About Viasat
Viasat is a global communications
company that believes everyone and everything in the world can be
connected. For 35 years, Viasat has helped shape how
consumers, businesses, governments and militaries around the world
communicate. Today, the Company is developing the ultimate global
communications network to power high-quality, secure, affordable,
fast connections to impact people's lives anywhere they are—on the
ground, in the air or at sea. To learn more about Viasat,
visit: www.viasat.com, go to Viasat's Corporate
Blog, or follow the Company on social media
at: Facebook, Instagram, LinkedIn, Twitter or YouTube.
Forward-Looking Statements
This press release contains
forward-looking statements that are subject to the safe harbors
created under the Securities Act of 1933 and the Securities
Exchange Act of 1934. Forward-looking statements include statements
that refer to the arrangement between, resources committed and
services to be performed by Viasat, Intercorp and CBC; the benefits
of the Community Internet connectivity service; the countries to be
served by the Community Internet connectivity service; the
opportunity to expand into other geographies, business areas or
applications; and the timing and availability of service on the
ViaSat-2 or ViaSat-3 satellite networks. Readers are cautioned that
actual results could differ materially and adversely from those
expressed in any forward-looking statements. Factors that could
cause actual results to differ include: risks associated with the
construction, launch and operation of satellites, including the
effect of any anomaly, operational failure or degradation in
satellite performance; contractual problems, product defects,
manufacturing issues or delays, regulatory issues, technologies not
being developed according to anticipated schedules, or that do not
perform according to expectations, and increased competition and
other factors affecting the connectivity market, generally. In
addition, please refer to the risk factors contained in Viasat's
SEC filings available at www.sec.gov, including Viasat's most
recent Annual Report on Form 10-K and Quarterly Reports on Form
10-Q. Readers are cautioned not to place undue reliance on any
forward-looking statements, which speak only as of the date on
which they are made. Viasat undertakes no obligation to update or
revise any forward-looking statements for any reason.
Copyright © 2021 Viasat, Inc. All rights reserved. Viasat,
the Viasat logo and the Viasat signal are registered trademarks of
Viasat, Inc. All other product or company names mentioned are used
for identification purposes only and may be trademarks of their
respective owners.
View original
content:https://www.prnewswire.com/news-releases/viasat-intercorp-peru-ltd-collaborate-to-bring-affordable-internet-services-to-unserved-and-underserved-communities-throughout-latin-america-and-the-caribbean-301419406.html
SOURCE Viasat, Inc.