Amazon to buy Globalstar for $11.57B

Amazon.com is acquiring satellite firm Globalstar for $11.57 billion, significantly bolstering its nascent satellite business. This strategic move is intended to position Amazon as a strong competitor against SpaceX's Starlink service. The acquisition highlights the intense competition and substantial investment occurring within the satellite-based connectivity market. Amazon's move signals its ambition to capture a significant share of this lucrative sector, leveraging Globalstar's infrastructure to accelerate its service offerings and challenge established players.