AST SpaceMobile. stc group sign 10-year commercial agreement

AST SpaceMobile (ASTS) and stc group announced the signature of a 10-year commercial agreement to enable direct-to-device satellite mobile connectivity across Saudi Arabia and key regional markets. As part of this agreement, stc has committed to a prepayment of $175M for future services and made a significant long-term commercial revenue commitment. Under this agreement, the first in the region for AST SpaceMobile, the company will build three ground gateways in Saudi Arabia and establish a network operations center in Riyadh to support the network’s operations and service quality.