Globalstar

GSAT

Market cap $10.3B

• Amazon.com shares are trending higher. What's pushing AMZN stock higher?

In a rather surprising move, Amazon (NASDAQ:AMZN | AMZN Price Prediction) acquired satellite connectivity play Globalstar (NASDAQ:GSAT), which investors might know best for its dealings with Apple (NASDAQ:AAPL) and the SOS feature on the iPhone.

Amazon.com's blockbuster deal for Globalstar holds a few lessons for investors: The market for space companies is for real, the wireless spectrum arms race is on, and rocketing valuations will always draw competition.

GSAT surges after Amazon acquisition, positioning its spectrum and satellite assets at the core of a global direct-to-device connectivity push.

Amazon is raking in cash at the box office after sending Ryan Gosling to space with “Project Hail Mary.” Its latest space play could make a real-world satellite business into a winner, too.

And according to Bank of America, the prize isn't small: a $200 billion low-Earth orbit (LEO) market spanning broadband, wireless, and defense.

NEW YORK CITY & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Globalstar, Inc. (NasdaqGS: GSAT) to Amazon.com, Inc. (NasdaqGS: AMZN). Under the terms of the proposed transaction, shareholders of Globalstar will receive $90.00 in cash or 0.3210 shares of Amazon common stock (with a value capped at $90.00 per share), for each share of Globalstar that they o.

Amazon.com (NASDAQ:AMZN | AMZN Price Prediction) announced it is acquiring satellite company Globalstar (NASDAQ:GSAT) for $11.6 billion, and the market delivered an immediate verdict.

Amazon announces plans to acquire satellite service provider Globalstar in its quest to provide connectivity from space.

Jones noted the deal accelerates Amazon Leo's commercialization by adding direct-to-device capabilities and leveraging Globalstar's spectrum and infrastructure.