Apple Will Invest $1.5B In Globalstar To Expand Satellite Services
This new investment will support the development and launch of a new mobile satellite services (mss) constellation as well as the expansion of ground infrastructure,. Satellite services provider globalstar today disclosed an expansion of its deal with apple. Apple will commit an additional $1. 1 billion for upfront. Satellite operator globalstar stock closed up more than 30% nov. Shares of globalstar (nyse:gsat) skyrocketed around 40% in premarket trading friday after the satellite services provider announced an expansion of its deal with.
Along with taking a stake in globalstar, apple is prepaying $1. 1 billion to expand iphone satellite connectivity. By umar shakir , a news writer fond of the electric vehicle. Closed up over 31% after apple invested $1. 1 billion in a satellite expansion deal. Apple is taking a 20% stake under the new agreement, which follows a $450. With apple's $1. 5 billion investment, globalstar will launch a new satellite constellation and expand ground infrastructure, which is grouped in a new mobile satellite.