RESTON, Va., April 20, 2012 – LightSquared announced today that it has reached agreement with Inmarsat to amend the Cooperation Agreement between the two companies.
This amended agreement provides LightSquared additional time and flexibility to use its spectrum to deploy a terrestrial 4G wireless network once all regulatory authorizations have been secured.
“This new agreement allows LightSquared an opportunity to focus its efforts on obtaining the necessary regulatory approvals to begin building the nation’s first, coast-to-coast wireless broadband system,” said Doug Smith, LightSquared’s interim chief operating officer and chief network officer. “We remain committed to fulfilling our business vision to bring world-class wireless broadband connectivity to millions of Americans.
“The renewed partnership between LightSquared and Inmarsat strengthens the opportunity for consumers across the U.S. to obtain the benefits of increased competition that LightSquared will bring to the broadband wireless market, and the only viable opportunity for rural areas of the country to obtain access to reliable broadband wireless service.”
LightSquared is a mobile communications provider currently serving government customers, public safety, and the commercial transport and logistics industries. The company has invested more than $4 billion to deploy an integrated satellite-terrestrial network which will provide next generation, high-speed mobile services on a nationwide basis. LightSquared’s state-of-the-art satellite –successfully launched in 2010 – will be combined with 4G LTE terrestrial technology to create a nationwide communications system that offers superior coverage and mobile broadband speeds. LightSquared’s integrated satellite-terrestrial network will expand wireless broadband capacity at a time when demand is increasing exponentially. LightSquared’s wholesale-only business model will enable existing and new service providers to sell their own devices, applications and services – at a competitive cost and without retail competition from LightSquared. For more information, please go to www.LightSquared.com, www.facebook.com/LightSquared and www.twitter.com/LightSquared.
Tel: (703) 390-1579
This release contains forward-looking statements and information regarding LightSquared and its business. Such statements are based on the current expectations and certain assumptions of LightSquared’s management and are, therefore, subject to certain risks and uncertainties. The forward-looking statements expressed herein relate only to information as of the date of this release. LightSquared has no obligation to update these forward-looking statements to reflect events or circumstances after the date of this release, nor is there any assurance that the plans or strategies discussed in this release will not change.