The company said initial deliveries to the US Air Force will roll out sometime in the third quarter of its fiscal year.
According to the release, the low rate initial production order from the USAF was for 1,000 National Security Agency (NSA)-certified mini crypto devices which will allow forward-deployed military members capabilities to secure the devices in “extremely hostile environments.”
The devices will also make sure calculated communication and data exchanges — regardless of their locations — are kept safe and secure.
“Cyber threats have created a new operational environment and have increased risk across the multi-domain battlespace,” Ken Peterman, president of government systems at Viasat, said in the release.
Peterman added the device will offer operational cost savings to its customers by way of the certificate-based Tactical Key Management and non-controlled Cryptographic item handling. In addition to having a low weight and power, the device will also provide long operational periods and smaller payloads.
“Our patented software is upgradable even after deployment, enabling ongoing improvements without removing the system from the field,” Peterman continued.
The mini crypto device is based on Viasat’s PSIAM cryptographic technology. The technology provides accredited cryptography for a variety of applications, such as unmanned applications, handheld communications, weaponized platform and high-speed cloud computing, to name a few.
The device certified by the NSA is currently available for purchase across all US DoD and government entities. Initial delivery of the company’s mini crypto devices are projected to roll out in the third quarter of Viasat’s fiscal year.
Shares of Viasat increased 1.85 percent over Wednesday’s trading period to close the session at US$71.40. The company currently has a “Moderate Buy” ranking on TipRanks based off five analysts with 12 month price targets in the last three months. Based off these ratings, Viasat has an average price target of US$68.60, a high estimate of US$89 and a low estimate of US$50.
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.