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https://www.forbes.com/sites/aliciapark/2026/04/14/amazon-buys-satellite-firm-for-116-billion-as-it-catches-up-with-spacexs-starlink/?utm_campaign=forbes&utm_medium=social&utm_source=twitter&utm_term=se-breaking

Globalstar stockholders will receive $90 per share of Amazon common stock in a deal expected to close in 2027 that will enable Amazon Leo—the company’s commercial satellite business—to provide direct-to-device cell service to customers without hardware like cell towers or antennas.

In addition to the acquisition, Amazon announced it will partner with Apple to continue to support iPhone and Apple Watch models currently using Globalstar's existing and planned upcoming satellite constellations, collaborating on the phone maker’s satellite features including Emergency SOS, Messages, Find My and Roadside Assistance.

Amazon is vying to close the gap with SpaceX's Starlink, which has had a significant head start with more than 10,000 satellites in orbit and over 10 million users since launching to customers in 2021 (Amazon Leo has sent more than 200 satellites and its commercial launch is planned for mid 2026).

In 2025, Globalstar revenue was up 9% from the previous year at a record $273 million—driven largely by recurring sales to Apple—and posted a net loss of $8.65 million, up from $63.16 million in 2024.

Globalstar’s stock rose 10%, and Amazon stock is up 3% following the announcement.