XM Satellite Radio said July 19 it made a $25 million strategic investment in the common stock of Worldspace Inc., which provides satellite radio service to Asia, Europe, the Middle East and Africa. XM also gained warrants to acquire $37.5 million in additional Worldspace stock and an option to invest, along with Worldspace and other partners, in various countries around the world.

The terms of the investment call for XM to cooperate with Worldspace to develop satellite radio products, technology and distribution and supplier networks.