Photo: Navarino

Viasat is exiting its position in Navarino as the maritime service provider secures new investment. 

Navarino announced Jan. 5 that the company’s co-founders Dimitris and Panos Tsikopoulos are reinvesting in the business with financing from ICG’s European corporate team. Viasat will no longer hold an equity interest in Navarino. Terms of the financing were not disclosed. The transaction is subject to close by the end of March 2026 pending regulatory approvals.

Navarino is a technology and connectivity solutions provider for the maritime industry that serves over 600 shipping companies and 12,000 vessels worldwide. Its satellite connectivity portfolio includes Inmarsat Maritime Fleet Xpress and NexusWave, as well as Starlink, OneWeb, and other satellite solutions. 

“Our mutual investment has helped to enable Navarino’s growth and to position Inmarsat Maritime as the trusted brand in the Mediterranean maritime connectivity market. While this marks a strategic step in our ongoing initiatives to monetize certain portfolio assets, we look forward to sustaining our strong commercial relationship with the Navarino team in this key market,” commented Ben Palmer, president of Viasat Commercial. 

Dimitris and Panos Tsikopoulos said in a statement that Navarino will have an ongoing commercial partnership with Viasat. They said the financing from ICG will help accelerate growth for the company “at an important inflection point for Navarino and the broader maritime industry.”