The GSAT deal is a Game changer: Globalstar Announces Next Generation Technology Agreement With Yippy, Inc.
Dec 17, 2015
OTC Disclosure & News Service
COVINGTON, La., Dec. 17, 2015 (GLOBE NEWSWIRE) -- Globalstar, Inc. (NYSE MKT:GSAT) today announced a new agreement with Yippy, Inc. (OTC:YIPI) to leverage the Yippy EASE 360 platform and proprietary data compression, optimization and security software. Building on an initial agreement from June 2015, starting early next year Globalstar’s subscribers will have access to Yippy’s industry leading software platform to provide a broadband-like data experience to the Company’s existing and prospective subscribers. The service will be available for both first and second generation services.
Globalstar’s subscribers will be able to access services that materially enhance the subscriber experience for data transfer, including web content. Yippy will also have the ability to resell Globalstar services in industries such as Oil & Gas, Defense/Military, Aviation and Maritime – all prospective customers who need to maintain efficient, secure and often critical business communications from beyond cellular with a terrestrial-like data experience and will have access to such a platform beginning in early 2016.
Further, under the terms of the new agreement, Globalstar was granted 19.99% of Yippy’s outstanding equity securities and has become the second largest shareholder of Yippy, ahead of now the third largest holder, IBM.
“This partnership signifies the mutual commitment and abundant opportunity to make Globalstar the market leader for the growing mobile data communications needs around the world, and we will continue to lead the way in affordable, superior satellite communications services for anyone who requires fast and efficient internet connectivity beyond the limitations of terrestrial networks. As we continue to innovate in the MSS industry and this evolution continues with new products including Sat-Fi, this agreement represents another step forward for improved services for our growing customer base,” commented Jay Monroe, Chairman and CEO of Globalstar.
Richard Granville, CEO, Yippy, also commented, “Globalstar was the right partner for us in making global internet access a reality. While other large companies are trying to determine their own approach to this endeavor, our platform, in partnership with Globalstar, is ready today and is superior to any competitive offering in the industry. Data compression for satellite technology has never been more important and valuable to the customer experience and we look forward to introducing our services to Globalstar’s subscriber base early next year.”
About Globalstar, Inc.
Globalstar is a leading provider of mobile satellite voice and data services, leveraging the world’s newest mobile satellite communications network. Customers around the world in industries like government, emergency management, marine, logging, oil & gas and outdoor recreation rely on Globalstar to conduct business smarter and faster, maintain peace of mind and access emergency personnel. Globalstar data solutions are ideal for various asset and personal tracking, data monitoring and SCADA applications. The Company's products include mobile and fixed satellite telephones, the innovative Sat-Fi satellite hotspot, Simplex and Duplex satellite data modems, tracking devices and flexible service packages. For more information, visit www.globalstar.com.
About Yippy, Inc.
Based in Fort Myers, Florida, Yippy, Inc. (www.yippyinc.com) is a technology company that specializes in the development of search-based applications, data normalization and aggregation through enterprise application (app) service environments (EASE) for consumer and enterprise markets. Yippy's proprietary appliance based product suites are deployed over a private cloud architecture and provide secure, redundant and maintained data services for individuals, businesses and education markets. The company also operates several online web properties and educational reference portals. Investors can find current financial disclosure for the company at http://www.otcmarkets.com/stock/YIPI/filings