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MDA Space expands contract with Apple partner Globalstar to $767 million for next-gen satellites

MacDailyNews

Feb 10

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Canadian MDA Space aid on Monday that it has expanded its contract with Globalstar – which is owned in part by Apple – to develop the next generation of low Earth orbit satellites, bringing the total contract value to about C$1.1 billion ($767.19 million).

Reuters:
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MDA Space will manufacture more than 50 advanced digital satellites for Globalstar, which competes with larger players such as SpaceX’s Starlink, amid a global race to capture market share in providing satellite-based services.
The Canadian space technology company will add approximately C$750 million to its backlog in the first quarter of fiscal 2025. This is in addition to the C$350 million that was already added when the deal was first announced in late 2023.
Covington, Louisiana-based Globalstar – which is owned in part by Apple – controls and operates low Earth orbit satellites for phone and data transmission, as well as observation services for various clients.

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MacDailyNews Note: In November 2024, Apple announced plans to commit $1.1 billion in cash and also purchase 20% equity in Globalstar for $400 million. Globalstar said it planned to allocate 85% of its network capacity to Apple.

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