EJ Viso will be back with KV Racing Technology for a third season in 2012, the team officially confirmed on Monday.

"We are very excited to have EJ back with us for 2012," said team co-owner and former Indy racer Jimmy Vasser. "Over the last two years he has shown the determination and desire to compete at the highest level and we look forward to him having a very successful 2012 season."

The signing had been all-but certain, and Viso has already been working hard with the team during the pre-season development tests so far this year, working alongside Tony Kanaan and 'guest' driver Rubens Barrichello. He completed 143 laps in the Dallara-Chevrolet at Infineon over the past weekend alone.

The delay in confirming Viso was thought to be because of the team needing flexibility in its commitments while it still seeking sponsorship to run Rubens Barrichello in a third car for the full season. Monday's announcement may signal that Vasser and his co-owner Kevin Kalkhoven have now successfully completed their business deals to fund Barrichello's transfer to IndyCar.

If that's the case then the team may be about to confirm the veteran F1 driver in the third car driven last year by Takuma Sato, who has now moved to Rahal Letterman Lanigan for 2012.

The team on Monday said via their Twitter feed that their next planned test at Barber Motorsports Park later this week had been cancelled. Instead, a press conference on an unspecified topic is understood to be in the process of being planned by KV for Thursday, March 1 in Brazil.

But in the meantime, the spotlight at the start of the week belongs to Viso - and the outgoing 26-year-old Venezuelan driver was delighted to have finally clinched his race seat for the year.

"I am really happy to be back with KV Racing Technology," said Viso. "Last year was very successful even if the results don't necessarily reflect what we wanted. We worked very hard and we proved we were competitive. The progress we made over the last two years will be a key to our success in 2012."

"He has shown speed in his previous two years and this year we expect many more successful finishes from him," added Kevin Kalkhoven.

In 2011, Viso notched up four top-ten finishes, with the best of them being seventh place in the second of the Texas double-header races. His best finish in IndyCar was with KV in 2010, when he finished in third place at Iowa.

Before joining KV, Viso spent two years with the HVM Racing team. Prior to entering IndyCar in 2008, Viso competed for three seasons in GP2 with BCN Competicion, iSport International and Racing Engineering.