Stock Track | Globalstar Soars Over 5% Pre-Market on $769 Million MDA Satellite Deal

Stock Track

Feb 10, 2025

Globalstar Inc (GSAT) shares soared 5.30% in pre-market trading on Monday, as the satellite communications company signed an expanded $769 million deal with MDA Space to manufacture over 50 satellites for its low-Earth orbit constellation.

MDA Space, a Canadian space technology firm, was awarded a follow-on contract worth C$1.1 billion ($769.6 million) to become the prime contractor for Globalstar's satellite network. This builds on an initial C$350 million authorization-to-proceed deal announced last year with an undisclosed customer widely speculated to be Globalstar partnering with Apple.

The definitive agreement will see MDA manufacture more than 50 MDA Aurora software-defined digital satellites for Globalstar's constellation. This is part of Globalstar's deal with Apple to provide expanded mobile satellite services through a new network infrastructure, paving the way for potential new revenue streams.

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This is part of Globalstar's deal with Apple to provide expanded mobile satellite services through a new network infrastructure, paving the way for potential new revenue streams.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GSAT","symbol_name":"全球星","start_time":0,"source_url":"","article_id":"1187376290","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1187376290","pubTimestamp":1739189420,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Globalstar Inc  shares soared 5.30% in pre-market trading on Monday, as the satellite communications company signed an expanded $769 million deal with MDA Space to manufacture over 50 satellites for its low-Earth orbit constellation.MDA Space, a Canadian space technology firm, was awarded a follow-on contract worth C$1.1 billion  to become the prime contractor for Globalstar's satellite network. 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