Globalstar completes deal to acquire Brazilian service provider

27 Mar 2008

Globalstar says it has completed a deal with Loral Space & Communications and various affiliated companies, to purchase of the Brazilian Globalstar independent gateway operator that currently owns and operates three satellite gateway ground stations in Brazil. Globalstar, which provides mobile satellite voice and data services to businesses, government bodies and end users, said the closing had been contingent on a registration statement for the shares of stock issued as consideration in the transaction being declared effective by the United States Securities and Exchange Commission. Globalstar received regulatory approval for the deal from the Brazilian telecoms watchdog Anatel earlier this year. The acquisition paves the way for Globalstar to extend its Simplex data coverage in South America and to begin talks with potential partners to provide ancillary terrestrial component or ATC-type services in Brazil.