Amazon to buy satellite firm Globalstar in $11.57 billion deal to take on Musk's Starlink - Reuters

<a href="https://news.google.com/rss/articles/CBMizwFBVV95cUxNbmFETGZ0bW1ZWk9xNTRmRmlmQ2VQeUF1dnNzc0FCa043WndhVXdjNWdRV0VxWGFMbHU3SUxraGF4Z25ocWkxOFBzVHZRazZTQkdlcDR0TmYyYXZrOFFGcVlIRUtodUtlcnFrMGtyaUM2cU5BdXBTaWx6cmVoOUJBYm9XaWJZU0ZfdUo5WWtwd0w4Y3NndmJWck9Da3VjcDF6YnJJUmtlVWdoajVibEVzRThTd0VkVDlFcFROVGlDUWczSGxYdjRZeWFzLVRNaDQ?oc=5" target="_blank">Amazon to buy satellite firm Globalstar in $11.57 billion deal to take on Musk's Starlink</a>&nbsp;&nbsp;<font color="#6f6f6f">Reuters</font>

Amazon.com announced it will acquire Globalstar in an $11.57 billion deal, bolstering its satellite business to compete with SpaceX's Starlink.

Amazon announced an agreement to acquire satellite company Globalstar for $11.57 billion to expand its satellite business, aiming to compete with SpaceX’s Starlink.

Amazon has announced the acquisition of satellite telecommunications company Globalstar for approximately $11.6 billion, marking a strategic move to compete directly with SpaceX’s Starlink.

Amazon has been working to ramp up its network by deploying about 3,200 satellites in Earth's low orbit by 2029, with roughly half required to be in place by a July 2026 regulatory deadline.

Amazon.com said on Tuesday it would acquire Globalstar in an $11.57 billion deal, bolstering its fledgling satellite business as it looks to take on bigger rival SpaceX's Starlink.

Amazon is acquiring Globalstar in an $11.57 billion deal, strengthening its Amazon Leo satellite internet business and positioning it to better compete against SpaceX’s Starlink by gaining spectrum, infrastructure, and operational capabilities.