Data technology company Yippy, Inc. (YIPI:OTC) has entered the global data space race by entering into a long-term agreement with Globalstar, Inc. (GSAT).
Historically, satellite internet and data service has been limited by slow download speeds. Yippy, which holds a perpetual license to IBM Watson Explorer technology, has developed its EASE 360 software solution that dramatically increases satellite data performance. In order to leverage this unique capability, Yippy has entered into a 20-year agreement with Globalstar, a leading provider of low earth orbit satellite voice and data communications.
The agreement enables Yippy to bring its customers industry leading satellite internet service, in addition to giving Yippy exclusive rights to sell Yippy’s EASE 360 Platform to Globalstar’s nearly 700,000 subscribers. Yippy also receives colocation rights with respect to 20% of Globalstar’s 26 ground stations worldwide. Yippy will utilize its access to the Globalstar network to provide affordable broadband-like internet access to locations not served by terrestrial internet - which includes more than 4 billion people around the world.
Yippy was advised in this transaction by Thomas C. Sima and John H. Snyder. We congratulate Rich Granville, John Macartney, and everyone at Yippy on this remarkable deal.