AST SpaceMobile (ASTS) is advancing 15% after the tech firm and Vodafone (VOD), a UK-based telecom giant, announced yesterday that they would launch a joint venture.

Called SatCo, the joint venture will offer European mobile carriers the ability to easily provide their customers with AST's direct-to-device technology. The latter system allows standard smartphones to obtain service directly from satellites, largely eliminating "dead zones."

A close up of a satellite in space, showing the advanced technology of communications systems.

More About the Joint Venture

SatCo "will exclusively distribute AST SpaceMobile’s satellite services to European" carriers through an easy-to-use system, AST and VOD reported.

The joint venture "will seek to provide 100% geographic coverage in every part of Europe to give consumers and businesses access to secure space-based cellular broadband connectivity," they explained.

The joint venture will also utilize "Vodafone's advanced engineering expertise," the companies noted.

"Vodafone’s space-based mobile broadband will mean our customers can stay connected, wherever they are," VOD CEO Margherita Della Valle said in a statement.

Additional Information About ASTS

Analysts on average expect AST's revenue to rise to $67.6 million in 2025 from $4.4 million in 2024.

The shares have a forward price-to-sales ratio of about 134 times.

In the last month, ASTS has climbed 28% while it has advanced 29% in the last three months. So far in 2025, it has surged 40%.

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Disclosure: None. This article is originally published at Insider Monkey.