Amazon Pursues Acquisition of Globalstar to Compete with SpaceX's Starlink
Amazon is trying to buy Globalstar to compete with SpaceX's Starlink
Ars Technica
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Amazon is negotiating to acquire Globalstar, a satellite telecommunications company, to enhance its low-Earth orbit satellite business and compete with SpaceX's Starlink service. The deal is complicated by Apple's 20% stake in Globalstar, and no agreement has been finalized yet.
- 01Amazon is in talks to acquire Globalstar to strengthen its satellite business.
- 02The deal aims to compete with SpaceX's Starlink Internet service.
- 03Apple owns a 20% stake in Globalstar, complicating negotiations.
- 04Globalstar's market capitalization is approximately $9 billion.
- 05Globalstar's stock has increased by 230% over the past year amid acquisition speculation.
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Amazon is currently negotiating to acquire Globalstar, a satellite telecommunications group founded in 1991, as part of its strategy to establish a low-Earth orbit satellite business. This move is seen as a direct challenge to SpaceX's Starlink, which currently dominates the market for satellite-based internet services. Negotiations are reportedly complex due to Apple's ownership of a 20% stake in Globalstar, requiring Amazon to engage with Apple as well. Although discussions are ongoing, no deal has been finalized, and the situation remains fluid. Globalstar has seen its market capitalization rise to about $9 billion, with its stock price increasing by 230% over the past year, fueled by speculation surrounding potential acquisitions. The company has attracted interest from multiple parties looking to develop their own satellite constellations.
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