Share
(Investorideas.com
Newswire) a go-to platform for big investing ideas, including defense
and space stocks issues a news and trading alert for Globalstar,
Inc. (Nasdaq: GSAT)
Globalstar, Inc. is trading at $80.30 +7.41 (+10.17%) with a morning
high of $80.78 following news of Amazon (Nasdaq: AMZN) acquiring the company. Amazon is also up this morning, trading at
$247.48 +7.59 (+3.16%).
Today Amazon.com, Inc. (Nasdaq: AMZN) and Globalstar, Inc. (Nasdaq: GSAT) announced that they have entered into a definitive merger
agreement under which Amazon will acquire Globalstar, enabling
Amazon Leo to add direct-to-device (D2D) services to its low Earth
orbit satellite network and extend cellular coverage to customers
beyond the reach of terrestrial networks. In addition, Amazon and
Apple announced an agreement for Amazon Leo to power satellite
services for iPhone and Apple Watch 1, including Emergency SOS via
satellite. The new capabilities are part of Amazon’s long-term
vision for space-based connectivity, and Amazon plans to work with
mobile network operators (MNOs) and additional partners to deliver
on that vision and extend reliable, high-speed connectivity to
customers, no matter where they are in the world.
“There are billions of customers out there living,
traveling, and operating in places beyond the reach of existing
networks, and we started Amazon Leo to help bridge that
divide,” said Panos Panay, Senior Vice President of Devices
& Services, Amazon. “By combining Globalstar’s
proven expertise and strong foundation with Amazon’s
customer obsession and innovation, customers can expect faster,
more reliable service in more places—keeping them connected
to the people and things that matter most. We’re excited to
support Apple users through the Leo D2D system and look forward to
working with mobile network partners to help extend coverage to
every corner of the planet.”
Globalstar is a leading mobile satellite services (MSS) operator, a
pioneer in non-geostationary orbit (NGSO) satellites and D2D
technology, and a provider of critical and emergency communications
to customers around the world. As part of the agreement, Amazon will
acquire Globalstar’s existing satellite operations,
infrastructure, and assets, including MSS spectrum licenses with
global authorizations.
Combining Globalstar’s spectrum and established MSS
capabilities with the scale, performance, and reach of Amazon Leo
will enable Amazon to deliver continuous connectivity for consumer,
enterprise, and government customers around the world—whether
they’re living or working in remote areas or simply moving in
and out of traditional cellular networks. Globalstar’s
existing satellite fleet and its new satellites with expanded
capabilities will operate alongside the Amazon Leo broadband system
and Amazon’s planned direct-to-device satellite system.
“We have long believed low Earth orbit satellite
constellations offer the most effective path to truly connect
users and devices anywhere and anytime,” said Paul Jacobs,
CEO, Globalstar. “For more than 30 years, Globalstar has
executed on this vision through sustained, long-term investment in
technological innovation, operational excellence, and development
of globally harmonized spectrum across both satellite and
terrestrial applications. The combination with Amazon Leo will
advance innovations in digital connectivity that will benefit our
customers and advance us toward a more intelligent, continuously
connected world.”
Full News
Research more space stocks and ETFs at Investorideas.com’s free
stock directory
https://www.investorideas.com/Companies/HomelandDefense/
Sign up for free trading and stock news alerts at
Investorideas.com
https://www.investorideas.com/Resources/Newsletter.asp
About Investorideas.com – Where You Find The Best Investing Ideas
Investorideas.com is the go-to platform for big investing ideas. From breaking
stock news to top-rated investing podcasts, we cover it all. Please
read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Mining stocks—Learn more about our news, PR and social
media, podcast and ticker tag services at Investorideas.com
https://www.investorideas.com/Investors/Services.asp
Advertising agencies—Learn more about digital advertising
and guest posts at Investorideas
https://www.investorideas.com/Advertise/
Follow us on X @investorideas @stocknewsbites
Follow us on
Facebook
https://www.facebook.com/Investorideas
Follow us on YouTube
https://www.youtube.com/c/Investorideas
Contact Investorideas.com
800 665 0411
Investorideas is a digital publisher of third party sourced news,
articles and equity research as well as creates original content,
including video, interviews and articles. Original content created by
investorideas is protected by copyright laws other than syndication
rights. Our site does not make recommendations for purchases or sale of
stocks, services or products. Nothing on our sites should be construed
as an offer or solicitation to buy or sell products or securities. All
investing involves risk and possible losses. Contact management and IR
of each company directly regarding specific questions.
