TerreStar Signs AT&T to Sell New Satellite-Cell Phone

Authored by Mark Hefflinger on September 30, 2009 - 10:08am.

Reston, Va. - TerreStar Networks, the developer of a satellite-terrestrial mobile broadband network, said on Wednesday that it has reached a deal for wireless giant AT&T (NYSE: T) to distribute its satellite-cellular smartphoned -- the first of its kind on the market.

The device, to be known as the TerreStar GENUS, normally will run on AT&T's wireless network, but also will let users in the U.S. connect through TerreStar's satellite network as a backup.

The companies plan to demonstrate the phone, which is smaller and more feature-rich than previous satellite devices, at a conference in Denver next week.

The cost of the device has yet to be announced. News of the deal sent shares of TerreStar up more than 20% by midday Wednesday, on an otherwise down day on Wall Street.

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