Amazon to buy Globalstar for $11.57B in bid to flesh out its satellite biz
Amazon has announced its acquisition of satellite company Globalstar, which powers Apple's "Emergency SOS" feature, for $11.57 billion in cash.
MAIN POINTS
- Amazon is purchasing Globalstar, a satellite company.
- The acquisition deal is valued at $11.57 billion.
- Globalstar is known for supporting Apple's "Emergency SOS" feature.
- The transaction will be completed in cash.
TAKEAWAYS
- Amazon's acquisition of Globalstar highlights its strategic interest in satellite technology.
- The deal emphasizes the growing importance of satellite services in tech ecosystems.
- This move could enhance Amazon's capabilities in emergency communication services.
- The cash transaction underlines Amazon's financial strength and commitment to this investment.