Mobile Satellite Services in Korea Will Be Offered By Joint Venture Created By Globalstar and Arion
Globalstar, Inc, a leading provider of mobile satellite voice and data services to businesses, government, and customers, informed that it has signed a joint venture agreement with Arion Communication Co., Ltd., a leading provider of mobile satellite voice and data products and services to maritime customers in Korea. The new joint venture company known as Globalstar Asia Pacific will operate the Globalstar gateway ground station in Korea and provide Simplex and duplex mobile satellite voice and data services including SPOT Satellite GPS Messenger(TM) products and services to consumers in Korea and the surrounding maritime region.
“All of us at Globalstar are excited about our new relationship with Arion Communication Co., Ltd. and we anticipate this is just the beginning of a long and profitable relationship that solidifies and builds our presence in Eastern Asia,” informed Peter Dalton, Chief Executive Officer, Globalstar, Inc. “This joint venture combines Arion’s expertise in delivering maritime messaging and vessel monitoring solutions with Globalstar’s ability to provide high quality and affordable mobile satellite services to areas beyond the reach of terrestrial wireless communications. Together we look forward to further expanding the market for both our Simplex and duplex mobile satellite services and SPOT Satellite GPS Messenger consumer products throughout Korea and the surrounding area.”
“We are very delighted to partner with Globalstar in establishing the joint venture company, Globalstar Asia Pacific,” said Tony Park, CEO of Arion Communication Co. Ltd., and Globalstar Asia Pacific. “We are confident that with the launch of the second-generation satellites beginning this summer, Globalstar will bring a huge paradigm shift in the market, having previously attained the single largest mobile satellite services market share position in the region. We also expect the new SPOT Satellite GPS Messenger and next-generation high speed duplex data communications services, which have not been provided in Korea before, will play a key role in expanding Globalstar’s market share exponentially.”
The two companies formed Globalstar Asia Pacific to acquire the existing gateway in Seoul from LG Telecom, which has been Globalstar’s service provider in the region since 2001. The acquisition and license transfer are subject to approval by the Korea Communications Commission (KCC) which is expected in the next few weeks. According to the agreement Arion Communication will also provide Globalstar mobile satellite voice and data products and services in Korea. Globalstar, Inc. plans to deliver the necessary engineering and technical training and personnel support necessary for Globalstar Asia Pacific to operate the Korean Globalstar gateway.
About Globalstar, Inc.
With over 375,000 subscribers, Globalstar is the world’s largest provider of mobile satellite voice and data services. Globalstar offers these services to commercial and recreational users in more than 120 countries around the world. The Company’s products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service. Global customer segments include: oil and gas, government, mining, forestry, commercial fishing, utilities, military, transportation, heavy construction, emergency preparedness, and business continuity as well as individual recreational users. Globalstar data solutions are ideal for various asset and personal tracking, data monitoring and SCADA applications.
About Arion Communication Co., Ltd.
Arion Communication Co., Ltd. is a dynamic company which is engaged in developing communications and networking systems for broadcasting, government, military and maritime customer satisfaction. With offices in Seoul and Pusan, the company provides a wide range of IT and communications products and services to vessels. Main services include satellite communications, email, vessel monitoring, ship networking and navigation equipment repair.
Safe Harbor Language for Globalstar Releases
This press release contains certain statements such as, “Globalstar, Inc. plans to provide the necessary engineering and technical training and personnel support required for Globalstar Asia Pacific to operate the Korean Globalstar gateway,” that are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control, including demand for our products and services, including commercial acceptance of our new Simplex products, including the SPOT Satellite GPS Messenger; problems relating to the ground-based facilities operated by us or by independent gateway operators; the pace and effects of industry consolidation; changes in technology; our ability to continue to attract and retain qualified personnel; worldwide economic, geopolitical and business conditions and risks associated with doing business on a global basis; and legal, regulatory, and tax developments, including changes in domestic and international government regulation.
Any forward-looking statements made in this press release speak as of the date made and are not guarantees of future performance. Actual results or developments may differ materially from the expectations expressed or implied in the forward-looking statements, and we undertake no obligation to update any such statements. Additional information on factors that could influence our financial results is included in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.