Globalstar Makes Brazilian Gateway Deal
[Satellite Today — 1-3-08] Globalstar will acquire a Brazilian satellite gateway operator and service provider in a deal valued at $6.5 million, Globalstar announced Jan. 2.
The operator signed an agreement with Loral Space & Communications and various affiliated entities to purchase the Brazilian Globalstar independent gateway operator, which owns and operates three satellite gateway ground stations in Brazil.
A Globalstar subsidiary will own and operate the Brazilian gateways, which provide mobile satellite voice and data services throughout Brazil as well as hundreds of kilometers into the Atlantic ocean. The transaction, which will be paid principally in Globalstar common stock, will provide Globalstar with direct access to an estimated market of about 200 million people for its satellite voice and data services, the company said.