Amazon has announced its acquisition of satellite operator Globalstar for $11.57 billion, aiming to compete with Elon Musk's Starlink. The deal grants Amazon access to Globalstar's mobile satellite spectrum, 24 operational satellites, and a long-term service agreement with Apple. This acquisition is part of Amazon's strategy to deploy a direct-to-device (D2D) satellite system by 2028, enhancing its satellite internet capabilities. Globalstar shareholders can opt for $90 in cash per share or 0.3210 shares of Amazon stock, representing a 117% premium over Globalstar's previous stock price. The acquisition also includes a partnership with Apple, which invested $1.5 billion in Globalstar in 2024. Amazon's stock rose 3% following the announcement, while Globalstar's stock increased by 9.6%. The transaction is expected to close in 2027, pending regulatory approvals.