00:00Amazon announced Tuesday it has entered into a definitive agreement to acquire satellite communications company Global Star for $11.57
00:09billion, its most aggressive move yet to challenge SpaceX's Starlink in the low-Earth orbit Internet market.
00:16The deal will net Amazon all Global Star's satellite operations, infrastructure and mobile spectrum licenses, enabling its young satellite business,
00:26Amazon Leo, to expand into direct-to-device services ahead of a launch later this year.
00:31Global Star currently powers Apple's emergency SOS feature and operates around two dozen low-Earth orbit satellites, with plans to
00:40expand that fleet to 54 satellites.
00:42Amazon is racing to catch Starlink, which currently has more than 10,000 satellites in orbit and over 9 million
00:49users, dwarfing Amazon's roughly 241 production satellites currently deployed.
00:55The deal is expected to close in 2027, pending regulatory approvals, and represents a nearly 117% premium over Global
01:04Star's share price from late October.
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