Memorandum of Understanding Would Look Into Opportunities to Extend AST SpaceMobile’s Coverage to Over 70 Million Smart Subscribers in the Philippines
MIDLAND, Texas--(BUSINESS WIRE)--Jul. 6, 2021--
AST SpaceMobile, Inc. (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by standard mobile phones, today signed a Memorandum of Understanding (MoU) to collaborate with Smart Communications, a leading mobile services provider in the Philippines.
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Alfredo S. Panlilio, Smart Communications President and CEO and Abel Avellan, Chairman and CEO of AST SpaceMobile, sign the Memorandum of Understanding. (Photo: Business Wire)
The combined effort would explore opportunities to extend SpaceMobile cellular broadband connectivity to the Philippines mainland, islands and surrounding waters after the service is launched.
“Our collaboration with Smart to look into opportunities to offer the SpaceMobile service to their customers in rural communities would allow the company to offer affordable broadband cellular access to the unconnected for the first time ever,” said Abel Avellan, Chairman and CEO of AST SpaceMobile. “With this MoU, we have entered into agreements and understandings with mobile network operators which collectively cover approximately 1.4 billion mobile subscribers.”
Under the MoU, AST SpaceMobile will seek to offer cellular broadband network coverage to approximately 70 million Smart subscribers following execution of definitive agreements and successful launch of the SpaceMobile service.
“This collaboration between Smart and AST SpaceMobile strongly supports this vision, as we continue to invest in our networks and explore the most relevant innovations that will enable us to continue expanding the reach of our services alongside delivering exceptional customer experience across the Philippines’ more than 7,000 islands,” said Alfredo S. Panlilio, Smart Communications President and CEO. “This new satellite communications technology aims to help us accomplish our mission of connecting the entire nation, where nobody gets left behind.”
About AST SpaceMobile
AST SpaceMobile is building the first and only global broadband cellular network in space to operate directly with standard, unmodified mobile devices based on our extensive IP and patent portfolio. Our team of engineers and space scientists are on a mission to eliminate the connectivity gaps faced by today's five billion mobile subscribers and finally bring broadband to the billions who remain unconnected. Follow AST SpaceMobile on Twitter @AST_SpaceMobile, LinkedIn, and for an overview on the SpaceMobile mission, view this video.
About Smart Communications, Inc.
Smart Communications, Inc. (Smart) is a wholly-owned wireless communications and digital services subsidiary of PLDT, Inc., the Philippines’ largest and only integrated telco company. Smart serves 96% of the country’s population with its combined 2G, 3G, 4G LTE and 5G network, providing mobile communications services, high-speed internet connectivity, and access to digital services and content to over 71.8 million Filipinos (as of March 2021), through its commercial brands Smart and TNT. Smart also offers satellite communication services under the brand Smart World.
This communication contains “forward-looking statements” that are not historical facts, and involve risks and uncertainties that could cause actual results of AST SpaceMobile to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “believes,” “estimates,” “anticipates,” “expects,” “intends,” “plans,” “may,” “will,” “would,” “potential,” “projects,” “predicts,” “continue,” or “should,” or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include, without limitation, statements concerning AST SpaceMobile’s expectations with respect to future performance and market size.
These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside AST SpaceMobile’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (i) expectations regarding AST SpaceMobile’s strategies and future financial performance, including AST’s future business plans or objectives, expected functionality of the SpaceMobile Service, anticipated timing and level of deployment of satellites, anticipated demand and acceptance of mobile satellite services, prospective performance and commercial opportunities and competitors, the timing of obtaining regulatory approvals, ability to finance its research and development activities, commercial partnership acquisition and retention, products and services, pricing, marketing plans, operating expenses, market trends, revenues, liquidity, cash flows and uses of cash, capital expenditures, and AST’s ability to invest in growth initiatives; (ii) the negotiation of definitive agreements with mobile network operators relating to the SpaceMobile service that would supersede memoranda of understanding; (iii) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of AST SpaceMobile to grow and manage growth profitably and retain its key employees; (iv) changes in applicable laws or regulations; (v) the possibility that AST SpaceMobile may be adversely affected by other economic, business, and/or competitive factors; (vi) the outcome of any legal proceedings that may be instituted against AST SpaceMobile; and (vii) other risks and uncertainties indicated in the proxy statement, including those under the section entitled “Risk Factors” in the Definitive Proxy Statement relating to the business combination, and in the Company’s other filings with the SEC.
AST SpaceMobile cautions that the foregoing list of factors is not exclusive. AST SpaceMobile cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors section of the Definitive Proxy Statement relating to the business combination. AST SpaceMobile’s securities filings can be accessed on the EDGAR section of the SEC’s website at www.sec.gov. Except as expressly required by applicable securities law, AST SpaceMobile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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Source: AST SpaceMobile, Inc.