Amazon Pursues $9 Billion Acquisition of Globalstar to Compete with SpaceX Starlink
Here's what it means for you.
The potential acquisition could reshape the satellite internet landscape, impacting broadband access for professionals globally.
What happened
Amazon entered acquisition talks with Globalstar, aiming to acquire the satellite operator for approximately $9 billion.
The Context
- Amazon's Project Kuiper: Launched in 2019, it aims to deploy over 3,200 low-Earth orbit satellites for broadband, facing delays that prompted an FCC extension request.
- Globalstar's Position: Founded in 1991, it provides voice, data, and IoT services, with a significant investment from Apple for iPhone Emergency SOS capabilities.
- Market Response: Globalstar shares surged over 15% on acquisition news, while Amazon shares dipped nearly 2%, reflecting investor sentiment around the deal.
The Number
— the number of active Starlink satellites, highlighting SpaceX's current market lead and the competitive pressure Amazon faces.
Takeaway
If negotiations succeed, expect a more competitive broadband market, potentially enhancing service availability and reducing costs.
This article was generated by AI from 3 verified sources and reviewed by A47 editorial systems.
Stock market news, investing ideas, and trading analysis.
"TheStreet provides market news and retail-investor-focused analysis."
— A47 Editor
Amazon just made things uncomfortable for Elon Musk
Amazon is reportedly in discussions to acquire Globalstar, a satellite telecommunications company, for approximately $9 billion, marking a significant move in the competitive satellite internet market where it has been trailing Elon Musk's Starlink. ...
Arabic tech news covering startups, apps, AI, and gadgets.
"AITnews is a well-known Arabic technology outlet covering regional tech developments."
— A47 Editor
أمازون تقترب من الاستحواذ على شركة الاتصالات الفضائية Globalstar لمنافسة ستارلينك
Amazon is in talks to acquire the satellite communications company Globalstar for approximately $9 billion, aiming to establish a presence in the satellite internet market and compete with SpaceX's Starlink service. This move comes as Amazon seeks to...
Opinionated AI coverage for general audiences.
"TNW’s AI vertical covering tools, ethics, and trends."
— A47 Editor
Amazon is in talks to buy Globalstar for $9 billion
Amazon is reportedly in advanced discussions to acquire Globalstar, a satellite telecommunications company, for approximately $9 billion. This acquisition would provide Amazon's low Earth orbit (LEO) satellite program with access to Globalstar's L-ba...