"Amazon's acquisition of Globalstar compresses years of development into a single transaction, providing the necessary spectrum and operational expertise to launch direct-to-device satellite services by 2028."
"The deal allows Globalstar shareholders to elect to receive either $90 per share in cash or Amazon stock, representing a 23.5% premium over Globalstar's closing price."
"Globalstar currently provides satellite services for iPhone 14 and later models and Apple Watch Ultra 3, under a partnership that includes Apple's significant investment in Globalstar."
"The dual announcement between Amazon and Apple resolves complications regarding the continuation of critical iPhone features, ensuring that services like Emergency SOS via satellite remain functional."
Amazon has agreed to acquire Globalstar for approximately $11.6 billion, allowing the company to enhance satellite services for Apple devices. The deal includes a spectrum and infrastructure agreement for Amazon Leo to power satellite features on iPhones and Apple Watches starting in 2028. Globalstar shareholders can choose between cash or Amazon stock, with the deal expected to close in 2027 pending regulatory approvals. The acquisition resolves previous complications regarding the functionality of critical iPhone features supported by Globalstar.
Read at TNW | Amazon
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