Amazon to Buy Globalstar in $11.6 Billion Deal to Challenge Starlink, Keep Apple Satellite Features Running
Amazon will acquire Globalstar for about $11.6 billion, aiming to speed up its direct-to-device satellite services and compete with SpaceX’s Starlink. Globalstar shareholders can choose cash or Amazon stock, with 58% already approving the deal. The merger still requires regulatory approval and depends on Globalstar meeting certain operational targets. Globalstar shares rose 9%, Amazon gained 2.7% after the announcement.