Business
Globalstar Announces Strategic Alliance With XCOM Labs
COVINGTON, La.--(BUSINESS WIRE)-- Globalstar, Inc. (NYSE American: GSAT) (“Globalstar” or the “Company”) today announced the formation of a global strategic
About this update from Globalstar, Inc.
[{"type":"text","content":" COVINGTON, La.--(BUSINESS WIRE)--\nGlobalstar, Inc. (NYSE American: GSAT) (“Globalstar” or the “Company”) today announced the formation of a global strategic alliance with XCOM Labs (“XCOM”). Globalstar and XCOM will jointly seek to commercialize XCOM’s capacity-multiplying technology with Globalstar’s Band n53 for dense 5G deployments in the US and in other countries where Globalstar has terrestrial rights.\n\nJay Monroe, Globalstar Executive Chairman commented, “The Company’s global mid-band spectrum portfolio is a significant asset and we welcome the great minds at XCOM and their technology to help us realize its full potential. Our strategy for maximizing the value of this asset is to continue to partner with the best companies possible to bring unique technologies and applications to market utilizing Band n53. Today’s announcement represents a substantial leap forward in this effort.”\n\nXCOM is an innovative wireless technology company founded by Paul Jacobs, Derek Aberle and Matt Grob, former senior leadership at Qualcomm. XCOM’s leadership and talented engineering team helped develop and commercialize many of the technologies that are at the heart of today’s smartphones. The XCOM team has a history of acquiring spectrum and developing technologies that significantly increased the value of that spectrum. With spectrum costs increasing, as evident from the recent CBRS and C-Band auctions, Globalstar believes XCOM’s capacity boosting and scaling techniques will make its mid-band spectrum an attractive offering for 5G New Radio (NR) based services. This alliance with XCOM will add expertise to all aspects of Globalstar’s future commercial and regulatory efforts.\n\nPaul Jacobs, Founder and CEO of XCOM said, “I have worked with Jay and Globalstar for many years and on many exciting projects. I am eager to embark on this new opportunity to drive XCOM’s growth while helping to accelerate the deployment of Globalstar’s spectrum resources. XCOM’s technology and products will offer significant capacity gains for dense deployments of greater than 4x compared to existing solutions with gains scaling even further up as additional hardware is deployed. This will greatly increase the utility of Band n53, allowing it to carry the traffic and subscriber load which previously required a much wider channel. Future mobile users in dense an...