Post by : Shakul

Amazon is reportedly in talks to acquire satellite telecommunications firm Globalstar in a deal valued at around $9 billion. The move is seen as part of Amazon’s strategy to strengthen its position in the rapidly growing satellite internet market and compete with rivals like SpaceX.

The discussions, still ongoing, are said to involve complex negotiations, partly due to Apple holding a significant 20% stake in Globalstar. While no final agreement has been reached, the potential acquisition highlights Amazon’s ambitions to expand its satellite network project, often referred to as Amazon LEO.

Currently, SpaceX’s Starlink dominates the sector with over 10,000 satellites in orbit, providing internet connectivity worldwide. Amazon, founded by Jeff Bezos, has launched more than 200 satellites so far and is aiming to scale up operations significantly to rival Starlink’s global footprint.

The talks also come as SpaceX prepares for a potentially record-breaking IPO, reportedly valued at over $75 billion. Meanwhile, Globalstar’s stock has surged sharply in recent months, reflecting growing investor interest in satellite-based communication technologies amid increasing global demand for connectivity.

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