UAE-based Space42 and US company Viasat are moving forward with the binding agreement they signed in September to build a shared satellite communications platform called Equatys, aimed at extending mobile connectivity to regions with little or no terrestrial network coverage.

Under the agreement, combined equity commitments between the two companies could reach up to $1 billion. Each company has initially committed $400 million to get the platform off the ground, and Space42 is expected to add a further $200 million in a future equity round that will also be open to outside investors. Overall funding will combine founder equity, third-party investment and debt.

The platform's technical goal is to let smartphones and connected devices communicate directly with satellites, enabling mobile operators to offer voice, text and data services even in areas beyond conventional network coverage, while each operator keeps its own spectrum rights and customer relationships and only shares the underlying infrastructure. The long-term architecture could eventually scale to 2,800 satellites across 60 orbital planes and three different altitude layers.

In a related step, Space42, Viasat and Canada's Terrestar Solutions signed a memorandum of understanding on October 28 to explore linking Equatys with Terrestar's planned CaStar constellation. The formation of the platform and the satellite procurement still depend on regulatory approvals and the closing of contractual terms.