Apple Will Invest $1.5B in Globalstar to Expand Satellite Services
The tech company is pledging more money for Globalstar's network of satellites, which power Emergency SOS and messaging.
A satellite services company is up 31% after announcing Apple is taking a stake
Apple is investing further in infrastructure for its satellite messaging features for iPhones, which enables texting without WiFi or cell service.
Apple to Bolster iPhone Satellite Services With $1 Billion Investment
Apple will spend up to $1.1 billion to expand satellite connectivity on iPhones. The news comes from Globalstar, a satellite communications provider that powers the Emergency SOS feature on newer iPhone models.
Apple to expand its satellite services with Globalstar
Apple is becoming a satellite communications company, taking a 20% stake in its existing satellite services provider, Globalstar , as part of a much-expanded deal with the latter. The iPhone maker has agreed to put up to $1.1 billion into the satellite company, deepening its ties with the firm.
Apple is buying 20 percent of its iPhone satellite services partner
Apple is taking a 20 percent stake in its iPhone satellite connectivity partner GlobalStar — a stake worth $400 million — as part of an expansion of its deal with the company. GlobalStar will also receive a prepayment of $1.1 billion from Apple that is intended to improve satellite infrastructure.
Apple makes $1.1 billion commitment to expand satellite messaging
Apple is committing over a billion dollars more to its existing satellite provider GlobalStar in order to have it expand its ground bases and add more satellites for iPhone messaging.
Apple Expands Globalstar Relationship to Support Growing Satellite Services
Globalstar today announced an amended agreement with Apple that will see an expansion of the satellite services that support Apple features
Globalstar soars on Apple’s $1.5 billion satellite investment
Satellite operator Globalstar stock closed up more than 30% Nov. 1 after disclosing Apple’s plans to invest $1.5 billion in a new constellation to improve space-based communications for iPhones.
Apple commits $1.5 billion to Globalstar for expanded iPhone satellite services
Apple committed about $1.5 billion to satellite communications company Globalstar to fund the expansion of iPhone services.
Apple to invest up to $1.5 bln in Globalstar for satellite coverage expansion
Apple will invest up to $1.5 billion in Globalstar to fund the expansion of its iPhone communication services, the satellite provider said in a regulatory filing on Friday.
Morgan Stanley says Globalstar expanded Apple relationship ‘very encouraging’
After Globalstar (GSAT) filed an 8K disclosing an expanded relationship with Apple (AAPL), Morgan Stanley analyst Simon Flannery noted that
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Apple Wants More Satellites and Ground Stations for iPhone Satellite SOS
Globalstar will use fresh Apple money to create, launch, and maintain the new satellite network and build additional ground ...
Apple Satellite Connectivity Provider Globalstar Stock Surges After Deal Extension
Globalstar's stock surges after announcing an expanded partnership with Apple worth $1.1 billion for enhanced satellite ...