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GLOBALSTAR ACQUIRES INDEPENDENT SATELLITE GATEWAY OPERATOR IN CENTRAL AMERICA
Acquisition to improve service to customers and further demonstrates Globalstar’s continued commitment to the expansion of its mobile satellite voice and data business
MILPITAS, Calif., January 05 2006 -
Globalstar, the world‘s most widely used handheld satellite phone and a provider of satellite voice and data services to business, announced today that it has signed a definitive agreement to acquire 100% of the stock of Globalstar Americas Telecommunications, Ltd., Globalstar Americas Holdings Ltd., and Astral Technologies Investments, Ltd.
These three companies are currently privately held and are authorized by Globalstar to provide Globalstar service throughout Central America, including Belize, El Salvador, Guatemala, Honduras, Nicaragua, Panama, and Costa Rica. They also own and operate the Globalstar satellite gateway ground station located near Managua, Nicaragua. The gateway provides Globalstar satellite customers with access to the local public telephone system throughout the region.
The transaction is expected to close in mid-January 2006 and upon closing will be effective for financial purposes at the close of business on December 31, 2005.
“This announcement is part of our ongoing commitment to improve Globalstar service for both our international customers working in the region, as well as domestic users throughout much of Central America,” said Steven Bell, Senior Vice President, International Sales, Marketing and Customer Operations for Globalstar LLC. Bell also added, “By acquiring this operation, Globalstar once again demonstrates the commitment to our corporate strategy of providing unique and uniform satellite voice and data services to our customers by expanding our capabilities in various regions throughout the world.”
Globalstar will now look at various ways of improving service for its satellite customers in the Central America region, by evaluating the potential introduction of various product solutions and roaming pricing alternatives already in place in North America and other regions around the world. The company will also evaluate potential service realignment options to improve service for the region.
Today’s announcement illustrates the ongoing fulfillment on Globalstar’s corporate strategy to profitably grow its satellite voice and data business throughout the Americas and around the world. This Globalstar LLC acquisition, the fifth acquisition of an independent Globalstar operator to date, also creates unified service for most of the Americas increasing the quality of service and simplicity of pricing and product offerings for international and local users throughout the region. In addition, Globalstar announced in November it was expanding its simplex data service into parts of Central and South America. This news was preceded by other Globalstar growth activities in 2005 including the development of the Wasilla, Alaska gateway, the introduction of service from its Sebring, Florida gateway, a US$140 million agreement with QUALCOMM for the manufacture of current and next-generation fixed and mobile satellite phones and the release of new product, pricing and service offerings.
About Globalstar LLC
Globalstar offers high value, quality satellite voice and data services to commercial and recreational users from virtually anywhere in more than 120 countries. The company's voice and data products include mobile and fixed satellite units, simplex and duplex satellite data modems and flexible service packages. Many industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service. Global customer segments include; oil and gas, government, mining, forestry, commercial fishing, utilities, military, transportation, heavy construction as well as individual recreational users. Globalstar service is available for as little as U.S. $ 0.14 per minute in the United States.
For more information regarding Globalstar, please visit Globalstar's web site at www.globalstar.com.
For media information, please contact:
Dean Hirasawa
Globalstar LLC
Dean.hirasawa@globalstar.com
905.712.6654
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