Amazon Agrees to Acquire Globalstar to Expand Low-Earth Orbit Satellite Services
Amazon has agreed to acquire Globalstar, a competitor to Starlink, in a deal that is expected to enhance Amazon's low-Earth orbit (Leo) satellite internet capabilities. The acquisition, which has already sent Globalstar's stock up over 10%, involves a $90 per share offer and is expected to close next year pending regulatory approval. Amazon will also take over emergency satellite services for Apple devices from Globalstar.
Topics: Amazon Apple Globalstar M&A Satellite Internet Stock Market