Globalstar, Inmarsat teaming up on selling satellite service

• Globalstar (NYSE:GSAT +0.7%) and Inmarsat (OTCPK:IMASY +7%) have the framework of a deal to cross-sell satellite products and services, extending the power of each into a global customer base.
• The move would combine Globalstar's strength in low-earth orbiting satellites with Inmarsat's in geostationary birds.
• A formal agreement is expected within weeks; both companies will operate independently otherwise.