Amazon to buy Globalstar for $11.57B

Amazon is set to acquire Globalstar in an $11.57 billion deal, significantly boosting its satellite business capabilities. This strategic acquisition is aimed at enabling Amazon to effectively compete with Elon Musk's Starlink service. The move signifies a major investment by Amazon into the rapidly growing and lucrative satellite-based connectivity market. Tech companies are increasingly pouring billions into this sector, and Amazon's acquisition of Globalstar positions it as a formidable competitor, aiming to close the gap with existing market leaders.