SpaceX-Globalstar deal rumored at about $10 billion

TL;DR:

• TMF Associates analyst Tim Farrar said in a 2025 research note that Globalstar's sale process could end with a deal worth about $10 billion.
• Bloomberg reported in October 2025 that SpaceX was interested in acquiring Globalstar and that Globalstar had hired an investment bank to support the process.
• A potential deal would affect Globalstar's Apple satellite contract, its C-3 LEO constellation plans, and SpaceX's position in direct-to-device satellite connectivity.

TMF Associates analyst Tim Farrar said in a 2025 research note that SpaceX could be close to acquiring Globalstar for about $10 billion. Bloomberg reported in October 2025 that SpaceX was interested in buying Globalstar and that Globalstar had hired an investment bank to facilitate a sale.

Farrar said the sale process that began in October could end near the price sought by Globalstar CEO James "Jay" Monroe, at about $10 billion, or about €9.2 billion. He said industry rumors in Washington, D.C. had also pointed to Amazon as a bidder, but argued SpaceX may have decided to outbid Amazon to strengthen Starlink's direct-to-device position; he also said regulators could weigh SpaceX's control of Globalstar's MSS spectrum alongside the 2 GHz MSS spectrum it acquired from EchoStar, and he expects a two-year extension for current 2 GHz spectrum licenses.

The report places the possible transaction in the wider satellite connectivity market, where Starlink competes with Amazon and other operators on broadband and direct-to-device services. Farrar said uncertainty remains over Globalstar's third-generation C-3 low Earth orbit constellation, while Apple has a long-term satellite capacity agreement with Globalstar signed in 2024 and Globalstar expanded its MDA Space contract by C$1.1 billion to grow its LEO constellation; Farrar said the outcome could depend on whether SpaceX can launch its next-generation Starlink Mobile constellation on schedule with Starship.

Related Questions

Is SpaceX buying Globalstar?

Maybe. TMF Associates analyst Tim Farrar said a SpaceX acquisition of Globalstar could be close, but the article reports analyst views and market rumors, not a confirmed transaction.

How much could SpaceX pay for Globalstar?

About $10 billion. Farrar said he expects Globalstar to sell for a figure close to the price sought by CEO James "Jay" Monroe.

How would a SpaceX-Globalstar deal affect Apple?

Unclear. Apple has a long-term satellite capacity contract with Globalstar worth $1.1 billion, and Farrar said a sale raises questions about future support for satellite connectivity on current iPhones and Globalstar's C-3 constellation plans.