Globalstar climbs after $11.57 billion Amazon deal

Globalstar

14/04/2026 13:36

** Shares of satellite telecom firm Globalstar GSAT.O up 9.4% at $79.76 premarket

** Amazon.com AMZN.O says it will acquire GSAT in an $11.57 billion deal to bolster its satellite internet business as it looks to take on SpaceX’s Starlink

** Under the deal, Globalstar shareholders can elect to receive $90 in cash or 0.3210 Amazon shares for each Globalstar share

** Acquisition will support AMZN's Project Kuiper satellite network, which plans to deploy about 3,200 low‑Earth‑orbit satellites by 2029

** As of last close, GSAT stock up 19.4% YTD, after nearly doubling in value in 2025

(Reporting by Tharuniyaa Lakshmi in Bengaluru)

((tharuniyaa@thomsonreuters.com))