Amazon announced $11.57 bn takeover of satellite firm Globalstar, offering shareholders $90 cash or 0.3210 Amazon shares per share.
Globalstar stock surged over 11% in pre‑market trading, adding to a 273% gain over the past twelve months.
Apple retains a 20% stake in Globalstar, having invested $1.5 bn in 2024, and will continue satellite safety support with Amazon.
Amazon aims to launch ~3,200 LEO satellites by 2029, with half required by July 2026, to compete with Starlink.