Amazon to Acquire Globalstar for $11.57 Billion to Expand Satellite Network

Amazon reached an agreement to purchase Globalstar for $11.57 billion. This transaction offers Globalstar shareholders a choice between $90 in cash or 0.3210 Amazon shares for each share they own. The deal represents a major investment in satellite infrastructure as Amazon seeks to build its own global internet service.

The acquisition adds Globalstar's two dozen satellites to Amazon's current orbital portfolio. Amazon now manages approximately 200 satellites in orbit. This expansion supports the company's broader objective to deploy 3,200 satellites by 2029. Integrating these assets will help Amazon scale its connectivity strategy and aerospace ambitions.

This move positions Amazon as a direct competitor to SpaceX's Starlink service. Starlink currently maintains a significantly larger presence with about 10,000 satellites in orbit. By acquiring established satellite assets, Amazon intends to accelerate its timeline to provide competing satellite-based internet services to customers worldwide.