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Amazon Is Trying to Buy Globalstar to Compete with SpaceX's Starlink
Apple’s 20% stake and Globalstar’s satellite network complicate negotiations as Amazon seeks to expand Amazon Leo and challenge SpaceX’s Starlink.
- Amazon is reportedly in talks to acquire Globalstar, a satellite telecommunications company with a market value of about $9 billion, according to the Financial Times. The companies are negotiating complex deal points following lengthy discussions.
- Seeking to rival Elon Musk's Starlink, the acquisition would bolster Amazon Leo, its nascent satellite internet service. Starlink operates more than 9,500 satellites and services over 9 million users globally, giving SpaceX a significant head start.
- Complicating the deal is Apple's 20% stake in Globalstar, acquired in November 2024, along with $1.1 billion in "upfront infrastructure prepayments" to support the satellite network. This requires Amazon to negotiate terms with both companies.
- Globalstar shares surged 24% to $85 in extended trading on Wednesday following the acquisition reports. The company's share price has soared nearly 230% over the past year, reflecting investor enthusiasm for the deal.
- Deploying its own Leo network, Amazon has launched about 200 satellites since last April and aims for commercial service later this year. Meanwhile, SpaceX confidentially filed for a US initial public offering, potentially valued at $75 billion.
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26 Articles
26 Articles
Today the company founded by Jeff Bezos has about 200 satellites against the 10,000 Musk. To complicate the negotiations there is Apple, which has a participation of 20%
·Turin, Italy
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Amazon, one of the world's largest technology and e-commerce companies, wants to acquire satellite communications company Globalstar for nine billion dollars, the Financial Times (FT) reported on Thursday.
·Estonia
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According to the industry service Satellitemap, Globalstar operates 88 active satellites. Amazon could open up to competition through the acquisition, but the negotiations are probably complex.
·Düsseldorf, Germany
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Total News Sources26
Leaning Left4Leaning Right3Center8Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 27%
C 53%
R 20%
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