The burgeoning satellite sector got a boost today, after Amazon.com Inc (NASDAQ:AMZN) announced the acquisition  of Globalstar (GSAT) for $11.57 billion.
Amazon is moving in on the orbital mobile connectivity market that's currently dominated by Elon Musk's Starlink. The company on Tuesday said it had agreed to buy satellite company Globalstar, known f
Top insights from the latest market news from Tuesday, April 14, from The Motley Fool analysts on Team Rule Breakers and Team Hidden Gems.
Amazon.com said on Tuesday it would acquire Globalstar in an $11.57 billion deal, strengthening its nascent satellite business as it seeks to compete with SpaceX's Starlink. Under the terms of the agr

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Amazon has agreed to acquire Globalstar in a move that allows its Amazon Leo satellite network to offer direct-to-device connections.
Amazon to buy Globalstar to bolster Leo satellite business
Amazon.com ​said on ‌Tuesday it would ​acquire ​Globalstar in an $11.57 ⁠billion ​deal, bolstering ​its fledgling satellite ​business ​to take ‌on ⁠bigger rival SpaceX's ​Starl
SEATTLE & COVINGTON, La.--(BUSINESS WIRE)--Today Amazon.com, Inc. (NASDAQ:AMZN) and Globalstar, Inc. (NASDAQ:GSAT) announced that they have entered into a definitive merger agreement under which Amazo
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Globalstar stock was leaping on Tuesday following a report that Amazon.com is nearing a deal for the satellite company.
Satellite internet is the next big business opportunity that Amazon is pursuing. The company has encountered snags but will look to launch its service later this year.
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