Amazon Acquires Globalstar for $11.6 Billion to Expand Satellite Internet Service
Amazon has agreed to acquire satellite operator Globalstar for $11.6 billion in a cash-and-stock deal, aiming to strengthen its satellite internet service, Amazon Leo, which is set to launch in mid-2026. The acquisition positions Amazon against SpaceX, a major competitor in the satellite internet market, and highlights the company's long-term commitment to this expensive and ambitious project. Analysts suggest the move could lead to significant future gains despite concerns over the high cost and current financial challenges.
Topics: acquisition Amazon Globalstar Leo Project Kuiper satellite internet space ambitions SpaceX