April 25, 2018 / 1:00 PM / 5 months ago

Globalstar to merge with FiberLight in $1.65 billion deal

(Reuters) - Satellite provider Globalstar Inc (GSAT.A) said on Wednesday it would merge with landline operator FiberLight LLC in a deal valued at $1.65 billion (1.18 billion pounds) to create a company with assets across satellite, spectrum, fibre and related technologies.

The deal combines the assets of FiberLight and Globalstar with Thermo Acquisitions Inc, which is controlled by Globalstar Chief Executive Jay Monroe.

Reporting by Arjun Panchadar in Bengaluru; Editing by Anil D'Silva

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