Amazon to Buy Satellite Company Globalstar for $11.6 Billion (3)

Amazon.com Inc. agreed to acquire satellite operator Globalstar Inc. in a roughly $11.6 billion deal that would expand the services of its satellite system.

Amazon is offering Globalstar shareholders either $90 in cash per share, or 0.32 shares of Amazon stock with a value capped at $90 a share, according to a statement on Tuesday. That represents a nearly 117% premium over Globalstar’s price from late October, before Bloomberg reported that the company was exploring a potential sale. The deal is expected to close in 2027.

In its announcement of the acquisition, Amazon also said that in 2028 it will ...