Amazon in complex talks to buy Globalstar with Apple stake complicating $9bn deal

03 April 2026 , 13:33

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Ecommerce giant is trying to catch up with SpaceX’s low Earth orbit internet service.

Amazon is in talks to acquire the satellite telecommunications group Globalstar, a deal that would bolster the ecommerce giant’s effort to build its own low Earth orbit satellite business.

The two sides were still negotiating over some of the complexities of a deal after lengthy talks, according to people familiar with the matter.

One complicating factor has been Apple’s ownership of a 20 per cent stake in Globalstar, necessitating negotiations between Amazon and Apple, the people said.

Acquiring the satellite group would accelerate Amazon’s push to compete with Elon Musk’s SpaceX and its Starlink orbital internet service.

No deal had been finalised and discussions could yet shift or collapse, the people warned.

Globalstar said: “As a company policy, Globalstar does not comment on industry speculation or rumours.” Amazon declined to comment. Apple did not immediately respond.

Founded in 1991, Globalstar shares have surged in recent months on the back of takeover speculation, reaching a market capitalisation of about $9bn on Wednesday.

Its stock is up about 230 per cent over the past year, with investors betting it could be a challenger to SpaceX.

Globalstar has attracted interest from various other suitors as companies seek to build out their own constellations of low Earth orbit satellites, in which Starlink is the dominant player.

Apple invested $1.5bn in Globalstar in 2024, taking a 20 per cent stake in the company. As part of the agreement, Globalstar agreed to reserve 85 per cent of its network capacity for the iPhone maker for satellite-based texting when outside cellular tower coverage.

Bloomberg reported in October that Globalstar was exploring a sale and had held early talks with SpaceX.

Amazon has been pushing forward with its own effort, dubbed Leo, launching the first batch of satellites for its internet constellation last year.

The company has more than 180 satellites in orbit but its deployment is dwarfed by the more than 10,000 active satellites operated by SpaceX.

Amazon in February was forced to seek a two-year extension to a July deadline from the Federal Communications Commission for the launch of 1,600 satellites.

Amazon plans to have about 700 satellites in space by the middle of this year but has said that a launch capacity shortage is hampering the build-out of its service, according to regulatory filings.

Amazon has signed deals with JetBlue and Delta for internet services on flights commencing in 2027 and 2028, respectively.

Andy Jassy, Amazon’s chief executive, told investors in February that Leo was part of a suite of “incremental opportunities” that the $2.2tn ecommerce group would pursue.

Globalstar reported full-year revenue of $273mn in its latest annual results, a 9 per cent increase from 2024. Income from operations was $7.4mn in 2025, after a narrow loss in the year before.