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Reuters
Tue, April 14, 2026 astatine 7:05 AM CDT 2 min read
April 14 (Reuters) - Amazon.com said connected Tuesday it would get Globalstar successful an $11.57 cardinal deal, bolstering its fledgling outer concern as it looks to instrumentality connected bigger rival SpaceX's Starlink.
Shares of satellite institution Globalstar were up much than 9% successful premarket trading, aft gaining implicit 6% successful the past 2 weeks pursuing media reports of the companies' discussions.
The banal had astir doubled successful worth past twelvemonth and has risen astir 12% truthful acold this year, earlier quality of an acquisition emerged.
Under the deal, Globalstar shareholders tin elect to person either $90 successful currency oregon 0.3210 shares of Amazon communal banal for each stock of the outer company they own, the companies said.
Amazon plans to ramp up its web by deploying astir 3,200 satellites successful Earth's debased orbit by 2029, with roughly fractional required to beryllium successful spot by a July 2026 regulatory deadline.
It currently operates a web of much than 200 satellites and is preparing to rotation retired its outer net services aboriginal this year.
Founder and erstwhile CEO Jeff Bezos launched Amazon's outer effort successful 2019 arsenic Project Kuiper, present known arsenic Amazon Leo.
In contrast, Elon Musk's Starlink, the ascendant satellite-based internet work provider, operates a web of much than 10,000 satellites that service more than 9 cardinal users globally.
Covington, Louisiana-based Globalstar, fashionable arsenic the work that powers Apple's "Emergency SOS" feature, operates astir 2 dozen satellites successful low-Earth orbit. Late past year, it said a new, Apple-backed web nether improvement would grow that to 54 satellites, including a tiny number of backups.
Globalstar offers voice, data, and asset-tracking services to customers crossed the enterprise, government and user markets.
(Reporting by Deborah Sophia successful Bengaluru; Editing by Sriraj Kalluvila and Leroy Leo)
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