Globalstar's HIBLEO-XL-1 satellite system is part of the company's next era of mobile satellite connectivity.
In September 1998, a Zenit-2 launch vehicle burned up in the atmosphere five minutes after launching from Baikonur Cosmodrome, resulting in the loss of 12 Globalstar satellites.
Apple introduced space-enabled messaging for iPhones in 2022 using Globalstar’s constellation.
Globalstar’s satellite architecture uses dual-frequency L-band for uplink communications from user terminals to satellites and S-band for downlink communications.
The partnership between Globalstar and Parsons was announced on 2024-12-03.
After paying the bid amount to complete the regulatory process, Globalstar will receive a 10-year terrestrial authorization from the IFT for the awarded frequencies.
Globalstar closed an investment deal worth $1,700,000,000 on 2024-11-05 to expand its satellite constellation.
Globalstar will use the $1,100,000,000 in preservice payments to deliver a new satellite service constellation, expand ground infrastructure, and increase global mobile satellite services (MSS) licensing.
Apple will invest $1,100,000,000 in satellite communications company Globalstar alongside a further $400,000,000 for a 20% equity stake in the business.
An earlier 2022 deal gave iPhone 14 users access to Globalstar’s 31 L-band satellites for emergency text services.
Apple will invest $1,100,000,000 and take an equity stake to fund more satellites for Globalstar.
Apple will take a 20 percent stake in Globalstar by buying 400,000 Class B shares for $400,000,000.
In an 2024-10-29 SEC filing, Globalstar committed to continue allocating 85 percent of its network capacity to Apple.
$232,000,000 of Apple’s $400,000,000 purchase of Class B shares will go to pay down Globalstar’s existing debt.
Apple’s total investment in Globalstar could reach $1,750,000,000.
The 2024-11-01 price rise gave Globalstar a market capitalization of $2,600,000,000.
Apple’s latest investment in Globalstar comes as SpaceX, AST SpaceMobile, and others seek permission to use cellular spectrum from space to deliver texting, voice, and broadband services directly to Android phones.
Apple has used Globalstar’s current network of 31 L-band satellites since 2022 to enable iPhones to access emergency services when terrestrial networks are unavailable.
Apple will make $1,100,000,000 in staggered cash prepayments to Globalstar to help fund the new network.
Globalstar’s shares closed up 31.43% to $1.38 on 2024-11-01.