Catenaa, Thursday, April 02, 2026- Globalstar stock surged as much as 10% on Thursday after reports that Amazon is in talks to acquire the satellite communication company for $8.81 billion.
One complicating factor is Apple’s 20% stake in Globalstar, acquired as part of a $1.5 billion investment in 2024 to expand the company’s satellite constellation and ground infrastructure. That stake has required negotiations between Amazon and Apple.
The Financial Times reported that the two companies are still negotiating the complexities of a potential deal following lengthy talks.
Globalstar, headquartered in Covington, Louisiana, operates a low-Earth-orbit satellite network offering voice, data, and asset-tracking services to enterprise, government, and consumer customers.
Founded in 1991, Globalstar shares have surged in recent months on the back of takeover speculation, reaching a market capitalisation of about $9 billion on Wednesday. Its stock is up about 230% over the past year, with investors betting it could be a challenger to SpaceX.
The company had nearly 800,000 mobile satellite subscribers at the end of 2025, according to Bloomberg. Globalstar also powers Apple’s emergency services feature on iPhones.
Globalstar reported full-year revenue of $273 million in its latest annual results, a 9% increase from 2024. Income from operations was $7.4 million in 2025, after a narrow loss in the year before.
A deal would add to Amazon’s Leo program, which has roughly 200 satellites in orbit and is targeting commercial service later this year.
Amazon’s long-term goal is a constellation of about 7,700 satellites, though the company has faced delays. In January, it asked the Federal Communications Commission for more time to meet a deadline requiring it to launch roughly 1,600 satellites by July 2026.
Even with a Globalstar acquisition, Amazon would face a steep climb to match SpaceX’s Starlink, which operates more than 9,600 satellites and serves over nine million users globally. Starlink accounts for 50% to 80% of SpaceX’s revenue.
Amazon has been building commercial partnerships for Leo ahead of its broader launch. Delta Air Lines signed an agreement to deploy the service on 500 aircraft beginning in 2028, and JetBlue Airways struck a deal to equip a portion of its fleet, making it the first airline to commit to the network.
Globalstar had previously attracted interest from other potential buyers. Bloomberg reported last year that the company was exploring a sale and had held early discussions with SpaceX, among other suitors.
