PARIS — Mobile satellite services provider Globalstar Inc. has agreed to build a new low-orbit constellation as part of a revised agreement with its principal customer and benefactor, Apple, that has a value of up to $1.75 billion, Globalstar said.
Under the expanded agreement, disclosed in a Nov. 1 filling with the U.S. Securities and Exchange Commission (SEC), Apple will make up to $1.1 billion in prepayments to Globalstar for the capital spending needed to build the new constellation and related ground segment.
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