Globalstar closes agreement to purchase Brazilian service provider

March 26, 2008

1 Min Read

MILPITAS, Calif. -- Globalstar, Inc.(Nasdaq:GSAT), a leading provider of mobile satellite voice and dataservices to businesses, governments, and individuals, today announcedthat it has closed the transaction with Loral Space & CommunicationsInc. and various affiliated entities to purchase the BrazilianGlobalstar independent gateway operator, which owns and operates threesatellite gateway ground stations in Brazil. The closing had beencontingent on a registration statement for the shares of stock issuedas consideration in the transaction being declared effective by theUnited States Securities and Exchange Commission.

Earlier this year Globalstar received the necessary Agencia Nacional deTelecomunicacoes (ANATEL) regulatory approval. The acquisition pavesthe way for Globalstar to immediately expand its Simplex data coveragein South America and engage in discussions with potential partners toprovide ancillary terrestrial component or ATC-type services in Brazil.

Globalstar will immediately begin managing the Brazilian business andthe three gateways located in Brazil. Globalstar has begun installingSimplex data hardware at the gateway located in Petrolina, Brazil. Thehardware will permit Globalstar to expand its Simplex data coveragethroughout Brazil, into parts of Northeastern Argentina and the nearbyAtlantic coastal maritime region. With this expansion Globalstar willbe able to offer its customers seamless simplex data coverage in Northand South America, stretching from Alaska south to Argentina.

Globalstar Inc. (Nasdaq: GSAT)

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