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Get The Most Recent Story Regarding Motorola Grounding Iridium Satellite Phone Release

Iridium, the satellite telephone company, has been working hard to re-invent itself following its 1999 bankruptcy. Last September it returned towards the stock marketplace via a reverse takeover, and has set about raising cash for a brand new fleet of low-earth orbiting satellites.

Within the 1990s Iridium launched with the idea of selling satphones to a broad user marketplace, but was quickly overtaken through the mobile mobile phone industry. It became chiefly a niche provider of phones to aid workers and the military.

Now, Matt Desch, chief executive, believes there could be a big new marketplace to become exploited in checking all sorts of objects, from trucks and also cargo containers to polar bears, by satellite handset .

Iridium was hopeful of getting backing for the $2.7bn project from either the US or French export credit agency

Now there is a snag. One-time parent company Motorola, which spun out Iridium in 1998, is suing the organization for "at least $24.68m", linked to old loan agreements in between the two businesses. Much more worryingly, Motorola could terminate crucial intellectual property licences for Iridium, which would make it impossible for the firm to run its satellite program.

Without having usable IP, there won't be a lot point in building or launching the satellites, even if the money can be raised. Iridium says it's however in talks with Motorola to resolve the concern, however the situation could well end up in court.

If this leads to delays, its terrible news. Iridium's existing satellites are not getting any younger - they have to be modified in the next four years or so - and other competitors for example Inmarsat, Orbcomm and Globalstar are preparing rival services.

Iridium shares, which debuted at almost $10 have now lost close to 30 per cent of their value.

The Motorola issue demonstrates once again the dangers of the space business. In orbit, the satellites are at danger of colliding with space junk - 1 Iridium satellite was taken out just last year when it crashed with a defunct Russian satellite . About the ground, it risks being hit by the legal debris of its previous financial collapse.

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