talk Satellite
 
Americas Asia-Pacific EMEA
















  

















     


 

Globalstar Finalizes Equity Investment in TrafficCast

 

April 19, 2011

 

Globalstar, Inc. has completed an equity investment in TrafficCast International, Inc., a leading provider of travel time forecasting and traffic information based on advanced digital traffic data. TrafficCast provides business and government customers with accurate real-time and on demand mobile traffic information and travel-time forecasts by analyzing GPS-based tracking and other data from expressways and major arterials as well as information from secondary and tertiary roadways, weather conditions, roadway incidents and events, construction, and historical traffic patterns.

 

"Today's announcement continues to demonstrate our interest in investing in providers of innovative mobile device technology solutions and TrafficCast, as a leader in the digital transportation sector, is an ideal addition to our investment portfolio," said Jay Monroe, Executive Chairman of Globalstar, Inc. "Just over a year ago we finalized our acquisition of mobile device manufacturer Axonn and with this new investment we continue to look at additional ways of further leveraging the Axonn acquisition and the deployment of our second-generation satellite network. With Globalstar, TrafficCast can now provide low cost, ubiquitous coverage and global support services for their customers, even when those customers are far beyond the range of terrestrial wireless communications."

 

"We are delighted to have a partner in Globalstar and access to their experience and expertise in mobile solutions and location-based services," said Al McGowan, CEO of TrafficCast. "Globalstar brings unique capabilities to our BlueTOADâ„¢ product family and will enable us to deliver critical information to public safety agencies and consumers when it is most needed where terrestrial data networks may not be effective."

 

With increasing congestion facing an estimated 100 million drivers in the United States alone, TrafficCast envisions an increased demand for advanced traffic flow data and travel information for a range of applications supporting mobile services, navigation, web portals, media, enterprise and the public sector. Over 10 years, TrafficCast has researched and developed the largest traffic data platform in the industry referencing historical and real-time traffic for over 450,000 miles of roadways in the United States.