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                   Apple to Invest $1.5 Billion in Globalstar

   Adam Engst

   At Six Colors, [1]Dan Moren writes:

     If you had any idea that satellite connectivity isn't a key part of
     Apple's strategy, well, the company's satellite partner Globalstar
     has[2]disclosed changes to its deal with Apple, including a new
     influx of $1.1 billion from Apple tied to capital improvements, and
     $400 million in equity, which gives Apple a 20-percent stake in the
     company.

   In return, Globalstar will continue to allocate 85% of its network
   capacity to Apple's satellite features. Although Globalstar will retain
   control of the board of managers, I assume Apple's 20% share entitles
   it to more of a say in the company's future direction.

   [3]Read original article

References

   1. https://sixcolors.com/post/2024/11/apple-sinks-1-1-billion-into-globalstars-satellite-network-takes-ownership-stake/
   2. https://www.streetinsider.com/dr/news.php?id=23913530
   3. https://sixcolors.com/post/2024/11/apple-sinks-1-1-billion-into-globalstars-satellite-network-takes-ownership-stake/

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