Amazon agreed to acquire Globalstar for $11.57 billion under a definitive merger agreement, giving stockholders the option of $90 per share in cash or 0.3210 Amazon shares with cash elections capped at 40%. The transaction, subject to regulatory approvals and operational milestones that could reduce total consideration by up to $110 million, is expected to close in 2027.

The deal transfers Globalstar's satellites, ground infrastructure and mobile licenses across more than 120 countries to Amazon Leo, which will power Emergency SOS, Messages, Find My and Roadside Assistance on iPhone 14 models and Apple Watch Ultra 3. Apple’s prior $1.5 billion investment for a 20% stake secured rights to 85% of network capacity, ensuring continuity of vital off-grid connectivity under the new arrangement.