Orbsat Corp Accelerates Global Expansion with Launch of E-Commerce Marketplaces in Sweden and Turkey

Rhea-AI Summary

Orbsat Corp (OTCQB:OSAT) has announced the launch of new E-Commerce marketplaces in Sweden and Turkey, expanding its presence to 16 countries. This expansion enhances the company's offerings of mobile satellite service products, including communications equipment and tracking devices from major providers like Garmin and Iridium. The company's recent capital raise in August 2020 funded this growth initiative. CEO David Phipps highlighted the opportunity to deliver market-leading satellite-based solutions to a broad customer base through these new platforms.

Positive

• Launch of E-Commerce marketplaces in Sweden and Turkey increases global presence to 16 countries.
• Expanded catalog of mobile satellite service products includes reputable brands.
• Recent capital raise facilitated investment in inventory and strategic growth.

Negative

• None.

Newly Launched Online Marketplaces Expand Orbat's Global Footprint and Tap Growing Markets

AVENTURA, FL / ACCESSWIRE / October 30, 2020 / Orbsat Corp (OTCQB:OSAT) ("Orbsat" or the "Company"), a global provider of communication solutions for connectivity to the world through next-generation satellite technology, today announced that it is continuing its global expansion plan with the launch of new E-Commerce marketplaces in Sweden and Turkey. The two new online marketplaces bring the Company's online presence to 16 countries.

The new marketplaces feature an expanded catalog of mobile satellite service ("MSS") products, including communications equipment and tracking devices from providers such as Garmin, Globalstar, Iridium, Inmarsat, Motorola Solutions and Thuraya, as well as a range of associated voice and data airtime options. The launch of the two new marketplaces follows the completion of the Company's August 2020 capital raise, proceeds of which allowed the Company to invest in increased inventory and strategic growth initiatives including market expansion and personnel recruitment.

David Phipps, Chief Executive Officer of Orbsat said, "Expansion into new countries like Sweden, Turkey and others we expect to launch in the near future provide exciting opportunities to bring market-leading satellite-based connectivity and tracking solutions backed by responsive customer support to large numbers of potential customers."

About Orbsat Corp

Orbsat provides services and solutions to fulfill the rapidly growing global demand for satellite-based voice, high-speed data, tracking and IoT connectivity services. Building upon its long-term experience providing government, commercial, military and individual consumers with Mobile Satellite Services, Orbsat is positioned to capitalize on the significant opportunities being created by global investments in new and upgraded satellite networks. Orbsat's US and European based subsidiaries, Orbital Satcom and Global Telesat Communications, have provided global satellite connectivity solutions to more than 35,000 customers located in over 160 countries across the world.

Forward-Looking Statements

Certain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company's business and any of its products, services or solutions. The words "believe," "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, including the Company's ability to launch additional storefronts in various geographic locations, its ability to grow and expand as intended, ability to raise additional capital to finance the Company's operations, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating) to change or differ from future results, the Company's ability to capitalize on its partnerships as well as other similar arrangements, performance (financing and operating) or achievements, including those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), copies of which may be obtained from the SEC's website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.

Media and Investor Contact for Orbsat Corp:

Michael Glickman
MWGCO, Inc.
917-397-2272
mike@mwgco.net

SOURCE: Orbsat Corp

View source version on accesswire.com:
https://www.accesswire.com/613400/Orbsat-Corp-Accelerates-Global-Expansion-with-Launch-of-E-Commerce-Marketplaces-in-Sweden-and-Turkey

FAQ

What new markets did Orbsat Corp open in October 2020?

Orbsat Corp launched E-Commerce marketplaces in Sweden and Turkey.

What products are featured in Orbsat's new marketplaces?

The new marketplaces feature mobile satellite service products, including communications equipment and tracking devices.

How many countries does Orbsat operate in after the new marketplace launch?

After the launch, Orbsat operates in 16 countries.

What was the purpose of Orbsat's August 2020 capital raise?

The capital raise was used to invest in increased inventory and support strategic growth initiatives.

What is the stock symbol for Orbsat Corp?

The stock symbol for Orbsat Corp is OSAT.