Amazon acquires Globalstar for $11.6bn

The acquisition of Globalstar positions Amazon as a major player in the rapidly expanding satellite communications market, which is projected to reach $200 billion.

By integrating Globalstar's existing spectrum and infrastructure, Amazon can accelerate the deployment of its own satellite network.

This move also has significant implications for Apple, which currently relies on Globalstar for its iPhone satellite features.

The deal underscores the intense rivalry between tech billionaires Jeff Bezos and Elon Musk as they race to dominate the space-based connectivity sector.