AST CEO Abel Avellan touted the agreements as “essentially eliminating dead zones and empowering remote areas of the country with space-based…
Satellite-to-phones service provider AST SpaceMobile announced a partnership with Verizon on Wednesday, adding to the company's recent deal with AT&T.
AST chairman and CEO Abel Avellan touted the agreements as"essentially eliminating dead zones and empowering remote areas of the country with space-based connectivity."The company's chairman and CEO, Abel Avellan, touted AST's agreements with Verizon and AT&T as"essentially eliminating dead zones and empowering remote areas of the country with space-based connectivity.
Verizon's deal effectively includes a $100 million raise for AST, as well, in the form of $65 million in commercial service prepayments and $35 million in debt via convertible notes. The companies said that $45 million of the prepayments"are subject to certain conditions" such as needed regulatory approvals and signing of a definitive commercial agreement.
Smartphone makers, service providers and satellite companies alike are working or partnering on D2D projects. Rivaling AST's deals is SpaceX's Starlink, which has teamed up withFeeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyAST expects to launch its first five commercial satellites later this year.
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