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COVINGTON, La. - Globalstar Inc. (NASDAQ:GSAT), a $3.01 billion market cap satellite communications company with annual revenues of $253.9 million, is continuing its partnership with CERES TAG to deliver satellite connectivity for livestock monitoring technology as Mexico faces an outbreak of New World Screwworm, according to a company press release. InvestingPro data shows the company maintains strong liquidity with a current ratio of 2.27.
The disease outbreak has resulted in border closures to live animal imports and placed cattle producers on high alert. The economic impact of the screwworm could potentially reach hundreds of millions of dollars if not contained quickly.
CERES TAG’s smart ear tags monitor livestock through real-time behavioral data, GPS location, and biosecurity triggers, with connectivity provided by Globalstar’s satellite network. This system functions without reliance on cellular infrastructure, enabling monitoring in remote ranching areas.
"Satellite technology is no longer just a backup; it’s a core infrastructure of agricultural intelligence," said Jake Rembert, Globalstar Vice President of Global Sales.
CERES TAG has recently expanded into the United States market and committed to purchasing a minimum of 30,000 units from Globalstar for the remainder of the year. The company has also signed agreements with MWI Health and Animal Health International.
The partnership aims to address the growing concern of zoonotic diseases, which have caused an estimated $20 billion in direct economic impact and $200 billion indirectly over the past decade, according to the statement.
Globalstar provides telecommunications infrastructure through its low Earth orbit satellite constellation, while CERES TAG specializes in direct-to-satellite animal health intelligence technology.
In other recent news, Globalstar has made significant strides in expanding its satellite network. The company’s petition to enhance its Mobile Satellite Services network was officially accepted by the Federal Communications Space Bureau, marking a procedural milestone. This acceptance initiates a public comment period, allowing industry experts and stakeholders to evaluate the proposed system. Additionally, Globalstar shareholders approved an amendment to the company’s Certificate of Incorporation, providing legal protections to its officers as permitted by Delaware law. This governance change was accompanied by the election of three Class A directors and the ratification of Ernst & Young LLP as the independent registered public accounting firm for 2025. In leadership developments, Globalstar appointed Dr. Tamer Kadous and Daaman Hejmadi to lead its terrestrial spectrum and wholesale satellite capacity businesses, respectively. These appointments aim to bolster Globalstar’s private network solutions and expand its satellite offerings. The company’s strategic moves reflect its ongoing efforts to enhance connectivity solutions and strengthen its market presence.
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