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Milpitas CA (SPX) Jan 11, 2006 Globalstar recently announced that it has signed a definitive agreement to acquire 100% of the stock of Globalstar Americas Telecommunications, Globalstar Americas Holdings, and Astral Technologies Investments. These three companies are currently privately held and are authorized by Globalstar to provide Globalstar service throughout Central America, including Belize, El Salvador, Guatemala, Honduras, Nicaragua, Panama, and Costa Rica. They also own and operate the Globalstar satellite gateway ground station located near Managua, Nicaragua. The gateway provides Globalstar satellite customers with access to the local public telephone system throughout the region. The transaction is expected to close in mid-January 2006 and upon closing will be effective for financial purposes at the close of business on December 31, 2005. "This announcement is part of our ongoing commitment to improve Globalstar service for both our international customers working in the region, as well as domestic users throughout much of Central America," said Steven Bell, Senior Vice President, International Sales, Marketing and Customer Operations for Globalstar. Bell also added, "By acquiring this operation, Globalstar once again demonstrates the commitment to our corporate strategy of providing unique and uniform satellite voice and data services to our customers by expanding our capabilities in various regions throughout the world." Globalstar will now look at various ways of improving service for its satellite customers in the Central America region, by evaluating the potential introduction of various product solutions and roaming pricing alternatives already in place in North America and other regions around the world. The company will also evaluate potential service realignment options to improve service for the region. Today's announcement illustrates the ongoing fulfillment on Globalstar's corporate strategy to profitably grow its satellite voice and data business throughout the Americas and around the world. This Globalstar acquisition, the fifth acquisition of an independent Globalstar operator to date, also creates unified service for most of the Americas increasing the quality of service and simplicity of pricing and product offerings for international and local users throughout the region. In addition, Globalstar announced in November it was expanding its simplex data service into parts of Central and South America. This news was preceded by other Globalstar growth activities in 2005 including the development of the Wasilla, Alaska gateway, the introduction of service from its Sebring, Florida gateway, a US$140 million agreement with Qualcomm for the manufacture of current and next-generation fixed and mobile satellite phones and the release of new product, pricing and service offerings. Community Email This Article Comment On This Article Related Links Globalstar SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express The latest information about the Commercial Satellite Industry
Orbcomm's Equity Financings Complete
Bremen, Germany (SPX) Jan 06, 2006OHB Technology affiliated company Orbcomm has announced that it has completed equity financings totaling over $110 million led by Pacific Corporate Group (PCG), which committed $60 million. New investors, in addition to PCG, include investment firms MH Equity Investors and Torch Hill Capital. |
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