Reading time 2 minutes Amazon is acquiring satellite operator Globalstar, the tech giant announced on Tuesday morning. The acquisition is the latest signal that Amazon is determined to become a major competitor to Elon Musk’s Starlink.

Amazon.com Inc. agreed to acquire satellite operator Globalstar Inc. in a roughly $11.6 billion deal that would expand the services of its satellite system.

In March 2026, a Starlink satellite vanished following an anomaly. Here's what's known so far and why experts are raising concerns about the incident.

Globalstar shareholders will have the option of receiving 0.321 shares of Amazon stock or $90 in cash for each share of Globalstar stock they own. The $90 price represents upside of 31% to the stock's close on April 1, a day before The Financial Times reported deal talks were in progress.

Starlink satellite 34343 experienced an "anomaly" during its orbit, resulting in the loss of communications with the satellite on Sunday, according to Starlink.

SpaceX Starlink spacecraft was seen prior to breaking up in orbit by a satellite.

Amazon (NASDAQ:AMZN) stock is up 5% today, rising from $239.89 to $252, after the company announced a blockbuster $11.57 billion acquisition of Globalstar (NASDAQ:GSAT). The deal is designed to turbocharge Amazon’s Project Kuiper satellite broadband initiative and put it in direct competition with SpaceX’s Starlink.