Motient has come a long way since its days as one of the early low-speed wireless data services providers. The company is now extending into space as it plans to launch a 4G all-IP next-generation integrated mobile satellite and terrestrial communications network in 2008.
Recognizing this change in direction, Motient Corp.'s board of directors and shareholder approved changing the corporate name to TerreStar Corp. Last week, the company's stock began trading on NASDAQ under the new ticker symbol "TSTR".
Robert H. Brumley, TerreStar president and chief executive officer stated, "'TerreStar Corporation' more accurately reflects where our business model has evolved in recent years. Today, we are building next generation mobile satellite and terrestrial communications networks in North America with TerreStar Networks and globally with TerreStar Global. By aligning our corporate name with our largest brands, we will increase the visibility of the company with customers, partners and in the marketplace."
TerreStar will also relocate its corporate headquarters from Lincolnshire, Illinois, to Reston, Virginia.
(Doug Lung's RF Report)
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