7/9/99 -- 3:38 PM
Teledesic signs deals with Lockheed
Martin, Motorola
BELLEVUE, Wash. (AP) - Teledesic LLC, which plans a network of
low-orbit satellites to conduct a range of telecommunications
services, announced today that it has signed a major launch contract
with Lockheed Martin and an agreement with Motorola to build the
satellite communications network.
Lockheed Martin will use Proton M and Atlas V boosters to launch a
significant portion of Teledesic's planned 288 satellites.
The contract calls for three Proton launches and three Atlas
launches, with options for five additional launches on each. Each
launch vehicle will carry multiple Teledesic satellites. Financial
terms of the agreement were not disclosed.
In the other agreement, Motorola will engineer and build the
Teledesic Network, a telecommunications grid designed to provide
high-speed data connections to businesses, institutions and
individuals worldwide.
As part of the deal, Motorola made a $150 million cash payment to
Teledesic, part of its previously announced investment in the
company. In addition, Teledesic has made a down payment of $250
million to Motorola for its work as prime contractor.
Teledesic, founded by Microsoft chairman Bill Gates and cellular
phone pioneer Craig McCaw, has now raised more than $1.5 billion for
its satellite system, which will be used to conduct high-speed
Internet access and interactive multimedia services. Other large
investors include Saudi Prince Alwaleed Bin Talal and The Boeing Co.
Copyright 1999 Associated Press. All rights reserved. This material
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