Amazon to buy Globalstar for $11.57B

Amazon has agreed to acquire satellite firm Globalstar for $11.57 billion, a move designed to significantly enhance its own satellite services and challenge rival SpaceX's Starlink. This acquisition highlights Amazon's aggressive expansion into the satellite communications sector. Globalstar's existing infrastructure and spectrum rights will be crucial for Amazon's ambitions. The deal's announcement led to a notable increase in Globalstar's share price in premarket trading, reflecting investor optimism about the strategic implications of this major technology acquisition.