Learn About The Most Recent Story About Motorola Grounding Iridium Satellite Handset Release

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

Within the 1990s Iridium launched using the idea of selling satphones to a wide customer marketplace, but was soon overtaken by the mobile mobile phone firm. 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 market to become exploited in tracking all sorts of objects, from trucks and cargo containers to polar bears, by satellite mobile phone .

Iridium was hopeful of obtaining 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 company for "at least $24.68m", connected to old loan agreements between the two companies. Much more worryingly, Motorola could terminate essential intellectual property licences for Iridium, which would make it impossible for the company to run its satellite program.

Without usable IP, there will not be a lot point in constructing or launching the satellites, even if the money can be raised. Iridium says it is however in talks with Motorola to resolve the issue, but the situation could nicely end up in court.

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

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

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

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