Apple has committed to investing about $1.5 billion (US) in satellite communications company Globalstar to expand its iPhone service.
The US tech giant has just signed a deal with Globalstar that includes $1.1 billion in cash, $232 million of which will be used to pay down the satellite company's existing debt, and a 20% stake. The deal is expected to close next Tuesday.
Apple invests $1.5 billion in Globlastar to expand iPhone satellite service.
Apple has spent hundreds of millions of dollars on Globlastar's services, which will enable the rollout of emergency satellite messaging from iPhones by 2022.
It is one of several efforts in the direct-to-device (D2D) satellite connectivity market – providing service to unmodified devices like smartphones directly from space – with other projects underway by SpaceX, AST SpaceMobile, Iridium, Lynk and EchoStar.
Shares of Globalstar rose 31.4% in Friday trading, closing at $1.38 per share.
In the filing, Globalstar said it will continue to allocate about 85% of its network capacity to Apple.
The new funding will allow Globalstar to acquire new satellites and expand its ground infrastructure. Globalstar currently operates 31 satellites and has ordered up to 26 satellites to add to and upgrade its low-Earth orbit constellation.
Source: https://www.baogiaothong.vn/apple-rot-15-ty-do-la-vao-globalstar-de-mo-rong-dich-vu-ve-tinh-iphone-19224110218185221.htm
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