see below for What YIPI got from GSAT in the deal:
Yippy, Inc. (“Yippy”) is pleased to announce that it has entered into a long-term agreement with Globalstar, Inc. (“Globalstar”), a leading provider of satellite voice and data communications.
In the coming weeks and months, Yippy will work closely with Globalstar to make available to Globalstar’s nearly 700,000 customers the Yippy EASE 360 platform and proprietary data compression, optimization and security software (the “Yippy Data Software”). Globalstar, already an industry leader, recently deployed a constellation of second-generation high-speed satellites. Yippy’s agreement with Globalstar signifies a mutual commitment to make Globalstar satellite voice and data service the gold standard in low-latency ubiquitous satellite communications for the next generation. This agreement creates five new and discrete business verticals for Yippy:
Yippy has acquired the right to purchase (at highly competitive wholesale pricing terms) and resell up to twenty percent (20%) of Globalstar’s network capacity. This will enable Yippy to resell Globalstar services and equipment to its own customers (together with access to the Yippy Data Software), who will benefit from enhanced data functionality and competitive pricing terms. Yippy believes that the Yippy Data Software will make satellite data and internet communications feasible for significant categories of customers previously discouraged from using satellite technology by slow data speeds and/or costs. We are in active discussions with potential partners who will assist Yippy in bringing satellite internet to un-connected regions of the world.
Under the agreement, Yippy may purchase voice and data service at highly competitive bulk pricing terms enabling Yippy to sell enterprise satellite service in a wide variety of settings. Yippy is in active discussions with potential partners in the oil & gas, defense/military, aviation and maritime industries. Yippy expects to devote a substantial portion of its technical resources toward helping enterprise customers to integrate enhanced satellite data technology into their existing business and organizational structures and practices.
Globalstar Customer Sales
Globalstar has agreed to market the Yippy Data Software to its nearly 700,000 customers. Globalstar customers who purchase the Yippy Data Software will pay Yippy a recurring monthly access fee. The agreement also contemplates that Globalstar and Yippy may together market the Yippy Data Software to customers of other communication service providers.
With respect to Globalstar’s customers using the Yippy Data Software, Yippy is the exclusive advertising agent for Globalstar, meaning that Yippy has the sole right to sell advertising that will appear on the phones (at startup) of Globalstar’s customers using the Yippy Data Software, and Yippy will receive a percentage of revenue from such advertising sales.
Yippy is acquiring the right to use twenty percent (20%) of Globalstar’s 26 gateways (and any future gateways which may come into existence during the term of the agreement) around the world, which includes a right to sell third-party hosting in its colocation space.
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This is a truly exciting opportunity for Yippy to provide true global access to data for individual and enterprise customers. Beyond simply providing data access, Yippy intends to integrate its industry leading search technology to enable customers to access the data they need, when they need it, virtually anywhere on earth (see current Globalstar coverage map, attached).