Amazon to Acquire Globalstar for $11.6 Billion
3 sources·4 updates
Amazon has announced its acquisition of satellite operator Globalstar for $11.6 billion, marking its largest investment since the purchase of Whole Foods in 2017. This strategic move aims to bolster Amazon's satellite communications capabilities and enhance its competitive edge against Starlink, a leading satellite internet provider.
Key Points
Globalstar operates more than 24 satellites and has agreements for over 50 new satellites.
Amazon is offering Globalstar shareholders $90 per share, which represents a 23.5% premium over the previous closing price.
Timeline
Get personalized news summaries delivered to your feed
Try Trace Free