Apple Is Buying 20 Percent Of Its IPhone Satellite Services Partner
Apple has taken a 20 percent ownership stake in satellite company globalstar in an equity deal worth around $400 million. It will also give globalstar $1. 1 billion in cash to. Apple has bought a 20% percent stake in globalstar, the company that provides satellite access to supporting iphone models worldwide. Globalstar quietly confirmed the. In exchange, apple will make prepayments of up to $1. 1 billion to support construction and launch of the new satellites and other expenses.
A satellite services company is up 31% after announcing apple is taking a stake. Nov 1, 2024, 2:08 pm pdt. Apple has agreed to a deal expansion with satellite. 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. Apple committed about $1. 5 billion to satellite communications company globalstar to fund the expansion of iphone services, the companies disclosed in a securities. Satellite services provider globalstar today disclosed an expansion of its deal with apple. Apple will commit an additional $1. 1 billion for upfront infrastructure.