Amazon to buy Apple’s 20% Globalstar stake in $11bn deal

TL;DR
Amazon finalized an $11 billion deal to acquire Globalstar and, as part of the transaction, will buy Apple’s 20% stake in the satellite company. The source says Apple’s iPhone satellite feature will not be affected. Apple and Globalstar had signed a $1.1 billion commitment in 2024, including a $400 million share purchase.

Amazon finalized an $11 billion acquisition of Globalstar, and the transaction includes the purchase of Apple’s 20% stake in Globalstar. GSM Arena reported that Apple’s iPhone satellite feature will not be affected by the ownership change.

Apple and Globalstar signed a $1.1 billion commitment in 2024. That commitment included a $400 million share purchase, which gave Apple a 20% stake in Globalstar, according to the source.

Amazon is expanding its satellite business, referred to by the source as Amazon Leo. The service is intended to provide low-latency broadband connectivity through a low-Earth-orbit satellite constellation, similar in concept to Starlink, according to the source.

Related questions

• How much is Amazon paying to acquire Globalstar?
• What stake in Globalstar does Apple hold?
• Will Apple’s iPhone satellite feature change after the deal?
• What did Apple and Globalstar agree to in 2024?