Globalstar Shares Rally 20% on Amazon Buyout Talks for Kuiper Program
Globalstar shares jumped over 20% after reports that Amazon is in talks to acquire the satellite provider, potentially bolstering its Kuiper low-Earth orbit program. Globalstar’s network, with nearly 800,000 mobile subscribers and backing from Apple’s $1.5 billion, would accelerate Amazon’s push to deploy over 7,700 internet satellites.
1. Amazon Explores Globalstar Acquisition
Amazon is in buyout talks to acquire satellite provider Globalstar, aiming to integrate its network into the Kuiper program and fast-track its low-Earth orbit ambitions. Negotiations continue over transaction complexity and valuation terms.
2. Globalstar’s Network and Subscriber Base
Globalstar operates nearly 200 satellites and serves about 800,000 mobile subscribers through its mobile satellite services. The company’s infrastructure was strengthened by Apple’s $1.5 billion investment in 2024, granting Apple a 20% stake.
3. Strategic Implications for Amazon’s Kuiper Program
Integrating Globalstar’s network could accelerate Amazon’s plan to deploy over 7,700 satellites and enhance service coverage in remote areas. This move would position Amazon’s Kuiper to compete more directly with existing providers like SpaceX’s Starlink.