Amazon buys Globalstar for $11.6B

The deal represents Amazon's largest acquisition since its purchase of Whole Foods and marks a major escalation in the low-Earth orbit satellite race.

By acquiring Globalstar, Amazon gains access to a network of two dozen satellites and valuable spectrum licenses that will power its upcoming Amazon Leo connectivity service.

The merger is complicated by Apple's existing stake in Globalstar, but analysts suggest the partnership will ultimately benefit iPhone users through enhanced satellite features.

Amazon plans to begin offering global internet and mobile services via the new network by 2028.