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Amazon Satellite Deal
Description
Amazon agreed to acquire Globalstar in an $11.57B deal to bolster its satellite business against Starlink. Globalstar shares rose over 9% premarket while Amazon gained ~1%. The deal gives Amazon access to Globalstar's ~24-satellite network. Amazon plans to deploy 3,200 satellites by 2029. Globalstar currently powers Apple's Emergency SOS feature and is expanding to 54 satellites.
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