MILPITAS, Calif., May 18, 2010 (GLOBE NEWSWIRE) -- Globalstar, Inc. (Nasdaq:GSAT), a leading provider of mobile satellite voice and data services to businesses, government, and consumers, announced today that Globalstar Asia Pacific has been granted the necessary license transfers from the Korea Communications Commission (KCC) to commence service operations. Earlier this year Globalstar and Arion Communication Co. Ltd., a leading provider of mobile satellite voice and data products and services to maritime customers in Korea signed a joint venture agreement to form Globalstar Asia Pacific. The new joint venture company 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™ products and services to customers in Korea and the surrounding maritime region.
"Now that the license transfer has been granted, Globalstar Asia Pacific can proceed with its plans to expand and support the market for both our Simplex and duplex mobile satellite services and SPOT Satellite GPS Messenger consumer products throughout Korea and the surrounding area," said Peter Dalton, Chief Executive Officer, Globalstar, Inc. "We will also complete the installation of satellite telemetry control unit (TCU) upgrades at the ground station located in Yeoju. These upgrades will allow us to globally monitor and control the orbital deployment of our new second-generation satellite constellation scheduled for launch beginning in late September or October."
"The stringent criteria of the Korean Communications Commission (KCC) presented challenges in the approval process, but we can now say that we have succeeded in overcoming these. We are extremely happy that we have achieved our goal with the support of all parties involved. In the very near future Globalstar Asia Pacific will begin offering Globalstar satellite services including SPOT and Simplex data throughout Korea and the Surrounding area," said Tony Park, CEO of Arion Communications Co., Ltd.
Globalstar Asia Pacific acquired the existing satellite gateway located southeast of Seoul in Yeoju, from LG Telecom, which has been the Globalstar service provider in the region since 2001. Globalstar, Inc. and LG Telecom signed a business transfer agreement subject to the KCC license transfer to Globalstar Asia Pacific. With the license transfer now complete, LG Telecom plans to transition the operations of the gateway to Globalstar Asia Pacific over the next 90 days. Globalstar, Inc. will provide Globalstar Asia Pacific with the necessary engineering and technical training and personnel support required to operate the 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.
For more information regarding Globalstar, please visit Globalstar's web site at www.globalstar.com
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.
For more information regarding Arion Communication please visit Arion's web site at http://www.arionit.com/
Safe Harbor Language for Globalstar Releases
This press release contains certain statements such as, "With the license transfer complete, LG Telecom plans to transition the operations of the gateway to Globalstar Asia Pacific over the next 90 days," 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.