Amazon entered a definitive agreement to acquire satellite operator Globalstar for approximately $11.57 billion. The acquisition aims to accelerate the development of Amazon Leo, a low-Earth-orbit satellite network. This project will provide global broadband internet to compete directly with Elon Musk’s Starlink.
Amazon gains control of Globalstar’s 24-satellite network and essential spectrum assets. These assets are critical for providing direct-to-device connectivity. Amazon will also assume responsibility for powering Apple’s Emergency SOS satellite feature.
Globalstar shareholders may choose $90 in cash or equivalent Amazon stock per share. Globalstar shares rose over 9% in premarket trading following the announcement. Amazon shares increased by approximately 1%. Amazon expects the deal to close in 2027, pending regulatory approval.