NEW YORK, USA: TIE Technologies Inc., a leading developer of advanced communication technologies designed to improve connectivity, productivity, and communication, announced that it has signed a Value Added Reseller agreement with Globalstar Inc., a world leader in providing mobile satellite voice and data services to business, governments and consumers.
TIE Technologies plans to integrate the coverage and service offered by the Globalstar Simplex data network into its virtual gateway, providing worldwide data communications and specific asset tracking solutions. These solutions will allow customers to track their assets using the Globalstar satellite network and TIE's Point B Telematics software.
The Globalstar Simplex data offering is an affordable and highly reliable one-way satellite data service that permits customers to use satellite modems and integrated back office management solutions to track mobile assets -- such as vehicles, trailers, cargo containers and maritime vessels, using GPS or other location-based software.
It can also provide personal tracking and messaging solutions for commercial and recreational customers using products such as the SPOT Satellite GPS Messenger. Simplex data service can also be used for a wide variety of industrial and security applications to monitor and send information from fixed assets, such as environmental measuring instruments, utility meters, or report the state of various mobile sensor devices and their locations.
Summarizing the service proposition, Mark Stevenson, Vice President, Strategic Sales and Alliances for Globalstar, stated: "By using the Globalstar satellite network, TIE Technologies' customers will be able to economically monitor their assets virtually anywhere in North America, Australia, and Europe and much of South America, Asia and North Africa.
"The monitored data is then sent back via the Globalstar space and ground network to the TIE Technologies' control and back-office monitoring facility. This data is received essentially in real time and from remote locations far beyond the reach of traditional ground-based wireless communications systems."
Mark Marangella, TIE Technologies, Executive Vice President commented: "Our communications gateway is the core pathway for data routing to our customers, employing Globalstar's ubiquitous satellite coverage, will be critical in creating the most cost effective solution for our client's data needs. Combined with our Point B Telematics acquisition, the Globalstar satellite communications system provides the perfect match for TIE's WIMFLeet customer's needs."
Showing posts with label Globalstar. Show all posts
Showing posts with label Globalstar. Show all posts
Friday, September 4, 2009
Thursday, July 2, 2009
Globalstar completes $738 million financing
MILPITAS, USA: Globalstar Inc., a leading provider of mobile satellite voice and data services to businesses, governments, and consumers, has completed a financing of approximately $738 million.
The total financing combines a previously announced $586 million credit facility and registered direct offering of convertible debt and warrants for $55 million plus a deposit by Thermo Funding, the majority shareholder of Globalstar, of $60 million into a contingent equity account, and funding of a debt service reserve account.
The $738 million financing fully funds the manufacture, delivery and launch of the Company's Globalstar 2.0 second-generation network and ground facilities, plus certain long-lead items connected with the accelerated delivery of additional second-generation spare satellites, and provides the Company with working capital needed for current and future operations.
"This is a tremendous day for Globalstar, and I cannot express how pleased I am that the funding is now complete," said Jay Monroe, Chairman and CEO of Globalstar.
He added: "We can now move forward and re-focus all of our collective energies on growing the market for our comprehensive lineup of mobile satellite solutions for enterprise and retail consumers. Globalstar already has the mobile satellite industry's largest base of voice and data customers. We also have been recognized for launching the industry's first and only mainstream retail consumer product, the SPOT Satellite GPS Messenger.
"With this funding we have the resources needed to deploy a new constellation of satellites designed to last beyond 2025 and to build the supporting ground infrastructure that will position us to be first to market with a host of advanced IP-based mobile satellite services years ahead of our primary competition.
"The launch of our new constellation, expected to be completed in 2010, will pave the way for the return of the high quality and reliability historically provided to Globalstar's voice and duplex data subscribers.
"Once again I would like to thank all of those involved who worked tirelessly on this financing during what can only be described as the most challenging capital market environment in recent memory. I would like to acknowledge the dedication and diligent efforts of those at Coface, BNP Paribas, Societe Generale, Natixis, Calyon, CIC, Thales, Arianespace, Hughes, Brown Brothers Harriman and Lazard who share our vision of this Company's future."
With the funding now complete, Globalstar expects to be the first global mobile satellite voice and data company to deliver and deploy its second-generation satellites and the first to offer an IP (Internet Protocol)-based network.
The Globalstar 2.0 next-generation network includes the second-generation satellite constellation, designed and manufactured by Thales Alenia Space, and the company's new ground segment developed by Hughes and Ericsson Federal. It is designed to provide Globalstar customers with high quality voice and data services beyond 2025 and increased data speeds of up to 256 kbps in a flexible all IP configuration.
Products and services supported are expected to include push to talk and multicasting, advanced messaging capabilities such as multimedia messaging or MMS, mobile video applications, geo-location services, multi-band and multi-mode handsets and data devices with GPS integration.
The financing will also facilitate the introduction of Globalstar's next-generation satellite interface chipsets being designed by Hughes Network Systems.
The total financing combines a previously announced $586 million credit facility and registered direct offering of convertible debt and warrants for $55 million plus a deposit by Thermo Funding, the majority shareholder of Globalstar, of $60 million into a contingent equity account, and funding of a debt service reserve account.
The $738 million financing fully funds the manufacture, delivery and launch of the Company's Globalstar 2.0 second-generation network and ground facilities, plus certain long-lead items connected with the accelerated delivery of additional second-generation spare satellites, and provides the Company with working capital needed for current and future operations.
"This is a tremendous day for Globalstar, and I cannot express how pleased I am that the funding is now complete," said Jay Monroe, Chairman and CEO of Globalstar.
He added: "We can now move forward and re-focus all of our collective energies on growing the market for our comprehensive lineup of mobile satellite solutions for enterprise and retail consumers. Globalstar already has the mobile satellite industry's largest base of voice and data customers. We also have been recognized for launching the industry's first and only mainstream retail consumer product, the SPOT Satellite GPS Messenger.
"With this funding we have the resources needed to deploy a new constellation of satellites designed to last beyond 2025 and to build the supporting ground infrastructure that will position us to be first to market with a host of advanced IP-based mobile satellite services years ahead of our primary competition.
"The launch of our new constellation, expected to be completed in 2010, will pave the way for the return of the high quality and reliability historically provided to Globalstar's voice and duplex data subscribers.
"Once again I would like to thank all of those involved who worked tirelessly on this financing during what can only be described as the most challenging capital market environment in recent memory. I would like to acknowledge the dedication and diligent efforts of those at Coface, BNP Paribas, Societe Generale, Natixis, Calyon, CIC, Thales, Arianespace, Hughes, Brown Brothers Harriman and Lazard who share our vision of this Company's future."
With the funding now complete, Globalstar expects to be the first global mobile satellite voice and data company to deliver and deploy its second-generation satellites and the first to offer an IP (Internet Protocol)-based network.
The Globalstar 2.0 next-generation network includes the second-generation satellite constellation, designed and manufactured by Thales Alenia Space, and the company's new ground segment developed by Hughes and Ericsson Federal. It is designed to provide Globalstar customers with high quality voice and data services beyond 2025 and increased data speeds of up to 256 kbps in a flexible all IP configuration.
Products and services supported are expected to include push to talk and multicasting, advanced messaging capabilities such as multimedia messaging or MMS, mobile video applications, geo-location services, multi-band and multi-mode handsets and data devices with GPS integration.
The financing will also facilitate the introduction of Globalstar's next-generation satellite interface chipsets being designed by Hughes Network Systems.
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