Amazon eyes $9B Globalstar acquisition to fast-track its satellite network and challenge Starlink

Amazon is in talks to acquire Globalstar, a low-earth-orbit satellite communications company with a market cap of roughly $8.8B, as it looks to accelerate the buildout of its Leo satellite network to compete with SpaceX's Starlink, according to the Financial Times. Negotiations have been complicated by Apple's 20% stake in Globalstar, requiring Amazon to negotiate with Apple as part of any potential deal. Amazon's Leo network currently has 180 satellites in orbit compared to Starlink's 9,500-plus, which serves more than nine million users globally and accounts for an estimated 50-80% of SpaceX's revenue.