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
The funding will go to company partner Globalstar, which plans on building a new satellite constellation to power Apple services.
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 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.
Globalstar stock rockets 40% on expanded satellite service deal with Apple
Shares of Globalstar (NYSE:GSAT) skyrocketed around 40% in premarket trading Friday after the satellite services provider announced an expansion of its deal with Apple (NASDAQ:AAPL). As part of the agreement,
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