financetom
Technology
financetom
/
Technology
/
Italy in talks over $1.5 billion SpaceX security services deal, Bloomberg News reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Italy in talks over $1.5 billion SpaceX security services deal, Bloomberg News reports
Jan 5, 2025 7:25 PM

(Reuters) -Italy is in advanced talks with Elon Musk's SpaceX over a 1.5 billion euro ($1.55 billion) deal for the company to provide secure telecommunications to the government, Bloomberg News reported on Sunday.

Discussions are ongoing and a final agreement on the five-year contract has not been reached, but the project has already been approved by Italy's Intelligence Services and Defence Ministry, the report said, citing unnamed sources.

SpaceX and Italy's Defence Ministry did not immediately respond to Reuters' requests for comment outside regular business hours.

The report said the deal involves SpaceX supplying Italy with a full range of encryption for telephone and Internet services used by the government.

It also includes communications services for Italy's military in the Mediterranean area and the rollout of satellite services in Italy for use in emergencies such as terrorist attacks or natural disasters, it said.

The news comes after Italian Prime Minister Giorgia Meloni said on Sunday she was ready to work with Donald Trump after making a surprise visit to his Mar-a-Lago residence in Florida to meet the president-elect before his inauguration on Jan. 20.

Meloni has also forged a close relationship with billionaire tech CEO Elon Musk, a close Trump ally.

Reuters reported last month that Italy plans to begin tests as early as January to see if the satellite-based connectivity offered by Musk's Starlink is a viable solution to boosting the rollout of high-speed internet in the country.

($1 = 0.9708 euros)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Qualcomm revamps mobile phone chips for AI, signs Samsung and others
Qualcomm revamps mobile phone chips for AI, signs Samsung and others
Oct 21, 2024
(Reuters) - Qualcomm ( QCOM ) said on Monday it is bringing technology first developed for its laptop chips to its mobile phone chips, aiming to make them more powerful for generative AI tasks. The San Diego-based company is the world's biggest seller of mobile phone chips. In an effort to expand its business, the company in 2021 hired a...
Qualcomm revamps mobile phone chips for AI, signs Samsung and others
Qualcomm revamps mobile phone chips for AI, signs Samsung and others
Oct 21, 2024
Oct 21 (Reuters) - Qualcomm ( QCOM ) said on Monday it is bringing technology first developed for its laptop chips to its mobile phone chips, aiming to make them more powerful for generative AI tasks. The San Diego-based company is the world's biggest seller of mobile phone chips. In an effort to expand its business, the company in 2021...
Deep Dive Into STMicroelectronics Stock: Analyst Perspectives (4 Ratings)
Deep Dive Into STMicroelectronics Stock: Analyst Perspectives (4 Ratings)
Oct 21, 2024
Ratings for STMicroelectronics ( STM ) were provided by 4 analysts in the past three months, showcasing a mix of bullish and bearish perspectives. The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 2...
What 10 Analyst Ratings Have To Say About Ncino
What 10 Analyst Ratings Have To Say About Ncino
Oct 22, 2024
10 analysts have expressed a variety of opinions on Ncino ( NCNO ) over the past quarter, offering a diverse set of opinions from bullish to bearish. The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total...
Copyright 2023-2026 - www.financetom.com All Rights Reserved