Amazon Announces Acquisition of Globalstar for $11.6 Billion
Amazon has announced its acquisition of Globalstar for $11.6 billion, leading to a 4% rise in Amazon's stock and a 9.3% increase in Globalstar's shares. The deal includes Globalstar's satellite assets and direct-to-cell (DTC) technology, which will enhance Amazon's satellite capabilities. Apple's stock dipped slightly in response to the news.
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Topics: Amazon Corporate Strategy Globalstar Satellite Communications Stock Market Reaction