Amazon signs $11.57 billion deal for satellite firm Globalstar to challenge Musk's Starlink

[BumRushDaShow]

Source: Reuters

April 14, 2026 8:05 AM EDT Updated 1 hour ago


April 14 (Reuters) - Amazon.com (AMZN.O), opens new tab said on Tuesday it would acquire Globalstar (GSAT.O) in an $11.57 billion deal, bolstering its fledgling satellite business as it ​looks to take on bigger rival SpaceX's Starlink. Shares of satellite company ‌Globalstar were up more than 9% in premarket trading, after gaining over 6% in the past two weeks following media reports of the companies' discussions.

The stock had ​nearly doubled in value last year and has risen about ​12% so far this year, before news of an acquisition ⁠emerged. Under the deal, Globalstar shareholders can elect to receive either $90 ​in cash or 0.3210 shares of Amazon common stock for each share of ​the satellite company they own, the companies said.

Amazon plans 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. It currently operates a network of more than 200 satellites and is preparing ‌to ⁠roll out its satellite internet services later this year. Founder and former CEO Jeff Bezos launched Amazon's satellite effort in 2019 as Project Kuiper, now known as Amazon Leo.

In contrast, Elon Musk's Starlink, the ​dominant satellite-based internet ​service provider, operates ⁠a network of more than 10,000 satellites that serve more than nine million users globally. Covington, Louisiana-based Globalstar, ​popular as the service that powers Apple's (AAPL.O) "Emergency SOS" ​feature, operates ⁠about two dozen satellites in low-Earth orbit.

Read more: https://www.reuters.com/business/media-telecom/amazon-signs-1157-billion-deal-satellite-firm-globalstar-challenge-starlink-2026-04-14/

[travelingthrulife]

1. These companies need to be broken into little bits.

Another deranged greedbag controlling too much.

[Ferrets are Cool]

2. And? it's just one Epstein class billionaire competing against another Epstein class billionaire.

[groundloop]

3. Exactly.... with the result being even more space junk and upper atmosphere pollution.

If you live where there aren't any good high speed internet options you'll have the choice of which oligarch to send your money to.

[EYESORE 9001]

4. Waiting for the inevitable satellite collision calamity

I’m frankly surprised it hasn’t happened already.

[Sweet Rosie Red]

5. Tweedldee & Tweedldum

hand in hand, laughing all the way to the Swiss bank

[Bengus81]

6. Take your ISP and shove it Bezo's. I hooked up to a local fiber optic company

a month ago. Shit canned that disaster called COX after 24 long years and outages seemingly every day on their old ass,aging system they hold together with tape and bubble gum.

They were bought out by Spectrum, prices will skyrocket in 6-12 months like they always do after a merger.

[Wonder Why]

7. Oh no! Now, there will be 2B satellites floating above us! How will Artemis 3 get through?

[BumRushDaShow]

8. Don't look up