Amazon to acquire Apple's 20% stake in Globalstar as part of $11.6B satellite deal
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by James Farrell
4d ago· 4 min readenNews
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Summary
Amazon is acquiring Apple's 20% stake in Globalstar, following Amazon's earlier $11.6 billion deal to purchase the satellite company. This acquisition gives Amazon full control over Globalstar's satellite spectrum and infrastructure, which will be used to expand Amazon's Project Kuiper satellite internet service. The deal marks a significant consolidation in the satellite communications industry and positions Amazon to compete more aggressively with SpaceX's Starlink.
Key quotes
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The deal positions Amazon to compete more directly with SpaceX's Starlink in the satellite internet market.
Globalstar's spectrum holdings are considered strategically important for expanding satellite broadband capabilities.
Amazon will acquire Apple’s 20% stake in satellite firm Globalstar - SiliconANGLE