Amazon · CNBC Technology
Amazon to buy Globalstar to bolster Leo satellite business in pact worth about $11.6B
Compiled by KHAO Editorial — aggregated from 4 outlets. See llms.txt for citation guidance.
✓ KHAO Verified
Amazon said Tuesday it would acquire Globalstar for $90 a share, in a deal worth about $11.57 billion.
Key facts
- Amazon said Tuesday it would acquire Globalstar for $90 a share, in a deal worth about $11.57 billion
- Amazon said the acquisition will enable it to build its own direct-to-device satellite system, which it expects to start deploying in 2028
- The transaction will give Amazon's nascent Leo satellite internet business a boost as it vies to compete with Elon Musk 's SpaceX
- Under the agreement, Amazon said it will acquire Globalstar's existing satellite operations, infrastructure and assets, including some spectrum licenses with global authorizations
Summary
The transaction will give Amazon's nascent Leo satellite internet business a boost as it vies to compete with Elon Musk 's SpaceX. Under the agreement, Amazon said it will acquire Globalstar's existing satellite operations, infrastructure and assets, including some spectrum licenses with global authorizations. Amazon said the acquisition will enable it to build its own direct-to-device satellite system, which it expects to start deploying in 2028. "By combining Globalstar's proven expertise and strong foundation with Amazon's customer-obsession and innovation, customers can expect faster, more reliable service in more places — keeping them connected to the people and things that matter most," Panos Panay, Amazon's senior vice president of devices and services, said in a statement.