Yippy Inc (OTCMKTS:YIPI) continues to show strong signs of a turnaround and is poised to continue its upward momentum after delivering its first shipment of Blue Flame Appliances for 2nd generation compression to Globalstar, Inc.
At the end of last year, Globalstar, Inc announced that it had formed an agreement with Yippy Inc (OTCMKTS:YIPI) to leverage their technology (the Yippy EASE 360 platform) and proprietary data compression, optimization and security software. The initial agreement began in June 2015 and starting in 2016 Globalstar’s subscribers will have access to Yippy’s industry leading software platform to provide a broadband-like data experience to the Company’s existing and prospective subscribers. The service will be available for both first and second generation services.
Under the terms and condition of the new agreement, Globalstar was granted 19.99% of Yippy’s outstanding equity securities and has become the second largest shareholder of Yippy, ahead of now the third largest holder, IBM. Remember Globalstar is $2.6 billion company and IBM is a $142 billion company both of which are large shareholders of YIPI who’s company value is a measly $26 million compared to these giants.
Richard Granville, CEO, Yippy, commented, “It is an exciting time in the MSS industry and for our partner Globalstar. Data compression for satellite technology has never been more valuable to the customer experience, and with our North American appliances in place at Globalstar’s Clifton and High River locations, Globalstar customers will be able to start surfing the web and accessing corporate data silos shortly.”
Jay Monroe, Chairman and CEO of Globalstar stated, “This partnership signifies the mutual commitment and abundant opportunity to make Globalstar the market leader for the growing mobile data communications needs around the world, and we will continue to lead the way in affordable, superior satellite communications services for anyone who requires fast and efficient internet connectivity beyond the limitations of terrestrial networks. As we continue to innovate in the MSS industry and this evolution continues with new products including Sat-Fi, this agreement represents another step forward for improved services for our growing customer base”
YIPI’s CEO commented, “Globalstar was the right partner for us in making global internet access a reality. While other large companies are trying to determine their own approach to this endeavor, our platform, in partnership with Globalstar, is ready today and is superior to any competitive offering in the industry. Data compression for satellite technology has never been more important and valuable to the customer experience.”
Yippy, Inc. designs, develops, markets, distributes and supports access and data management software in a cloud configuration. Yippy operates three distinct business divisions, which deliver a range of products and services for enterprise, education (EDU) and Web customers.
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YIPI is currently trading at a $27 million market valuation. It has 2 large shareholders that range from $3 billion market cap to $140+ billion. It has attracted the attention of sleeping giants with its proprietary data compression technology to streamline and increase customer experience.
We will be updating on YIPI when more details emerge so make sure you are subscribed to Microcapspot so you know what’s going on with YIPI.
Disclosure: we hold no position in YIPI either long or short at the publication of this article and we have not been compensated for this article.
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