Apple is buying 20 percent of its iPhone satellite services partner
by Umar Shakir from The Verge - All Posts on (#6RXHN)
Photo by Victoria Song / The Verge Apple is taking a 20 percent stake in its iPhone satellite connectivity partner GlobalStar - a stake worth $400 million - as part of an expansion of its deal with the company. GlobalStar will also receive a prepayment of $1.1 billion from Apple that is intended to improve satellite infrastructure.
Apple relies on GlobalStar's satellites to enable to send emergency text messages, iMessage reactions, and more through the skies in areas with no cell signal. GlobalStar disclosed the details of the deal expansion in an SEC filing, which includes a new satellite constellation, expanded ground infrastructure, and increased global [mobile satellite services] licensing."
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