SpaceMobile's network is designed to operate across premium
low-band spectrum, its own licensed L-band and S-band spectrum,
and up to 1,150 MHz of mobile network operator partners’ low-
and mid-band spectrum worldwide, the company said.
“The agreement will extend the scope of Verizon’s 850 MHz
premium low-band spectrum into areas of the U.S. that would
benefit from the ubiquitous reach of space-based broadband
technology," Abel Avellan, founder, chairman and CEO of AST
SpaceMobile, said in a statement.
Financial terms of the agreement, which expands on a strategic
partnership announced in early 2024, were not disclosed.
“By integrating our expansive, reliable, robust terrestrial
network with this innovative space-based technology, we are
paving the way for a future where everything and everyone can be
connected, regardless of geography," Srini Kalapala, Verizon's
senior vice president of technology and product development,
said in a statement.
The deal arrives two days after Verizon named former PayPal CEO
Dan Schulman to its top job, taking over the post from Verizon
CEO Hans Vestberg.
Schulman, who has served as a Verizon board member since 2018
and is its lead independent director, will become CEO of the New
York company immediately. Vestberg will serve as a special
adviser through Oct. 4, 2026.
Vestberg will continue as a Verizon board member until its 2026
annual meeting.
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