Amazon and Globalstar finalized an acquisition deal worth $11 billion. But by purchasing Globalstar, Amazon also had to buy out Apple's 20% stake in the company. Apple and Globalstar signed a $1.1 billion commitment back in 2024, which included a $400 million share purchase. Amazon is looking to expand its satellite service business called Amazon Leo. It aims to provide low-latency broadband connectivity through a low-orbit constellation of satellites similar to Starlink. But in order to complete the merger, Amazon needs to buy Apple's 20% stake in Globalstar by creating a new...
Source: https://www.gsmarena.com/amazon_to_acquire_apples_20_stake_in_globalstar_iphones_satellite_feature_wont_be_affected-news-73033.php
