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Amazon.com has announced a significant $11.57 billion acquisition of satellite company Globalstar.
Amazon has announced the $11.57 billion acquisition of satellite company Globalstar.
KEY POINTS
- Globalstar shareholders can choose between $90 in cash or 0.3210 Amazon shares per share.
- Amazon aims to deploy about 3,200 satellites in low Earth orbit by 2029 with this acquisition.
- Amazon must have half of its planned satellites operational by July 2026 to meet regulations.
COMPANIES
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