Amazon Buys Globalstar for $10.8 Billion, Movingto Expand Its Satellite Internet Service

Amazon agreed to acquire Globalstar for $10.8 billion in stock and cash to accelerate its Project Kuiper/Leo satellite-internet push, aiming to offer voice, data and messaging to consumers beginning in 2028. The deal includes a partnership with Apple to connect iPhones and Apple Watches to Amazon’s satellite network, potentially jump-starting adoption. The acquisition intensifies competition with SpaceX’s Starlink and could reshape the satellite-internet landscape ahead of SpaceX’s planned IPO, with implications for market share, consumer distribution and long-term revenue for Amazon. The stock-and-cash structure may have balance-sheet and dilution considerations for Amazon investors as the company scales its space connectivity business.