Amazon Agrees to Acquire Globalstar in $11.6 Billion Deal to Expand Satellite Internet Capabilities
Amazon (AMZN) rose 3.8% following its announcement of a $11.6 billion acquisition of Globalstar (GSAT) to bolster its satellite internet ambitions. The deal includes a $90 per share offer for Globalstar, a 50% premium over its one-month trading price. The acquisition is expected to support Amazon’s 'Leo' satellite internet project and AI-driven cloud growth.
Topics: Acquisition Amazon Globalstar Satellite Internet Stock Market