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Ligado raises USD 3.85 bln for L-band plans

Monday 26 October 2020 | 08:56 CET | News
Ligado Networks said it has raised USD 3.85 billion in new capital, which it will use to develop a low-power terrestrial network in the L-Band for 5G and IoT services, and for mission-critical industries. The money was raised from new and existing investors led by JP Morgan Chase & Co. "Today is a great day,"Ligado CEO Doug Smith said. "We've secured our license, we've raised the necessary capital, and we're in a great position to work with the industry to get this spectrum deployed for 5G to support critical industries across the US," the CEO added.

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Categories: Mobile & Wireless / Broadcast & Satellite
Companies: Ligado Networks
Countries: United States
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