Amazon in Talks to Acquire Globalstar, Boosting Satellite Communications

Amazon is reportedly in talks to acquire satellite communications company Globalstar, with shares jumping over 15% in after-hours trading. The deal would strengthen Amazon's low-Earth-orbit satellite internet business and help catch up to SpaceX's Starlink network. Globalstar already has launch agreements with SpaceX, but a sale could bring Apple's 20% stake into play. The next major catalyst for Globalstar may come in its May 7 earnings report, with analysts expecting revenue to rise to $70.59 million from $60.03 million.