Amazon to buy Globalstar for $11.57B

Amazon has entered into an agreement to acquire satellite communications company Globalstar for $11.57 billion. This significant acquisition aims to bolster Amazon's burgeoning satellite business, positioning it to compete directly with SpaceX's Starlink. The deal underscores Amazon's strategic push into the satellite internet market, a sector experiencing substantial investment and growth. By acquiring Globalstar, Amazon gains valuable spectrum assets and infrastructure, accelerating its efforts to offer global satellite-based connectivity services and challenge established players in the space.