Amazon is in talks to buy satellite telecommunications group Globalstar as it ramps up efforts to build its own low-Earth-orbit satellite business to rival SpaceX’s Starlink, the Financial Times reported on Wednesday (paywall), citing people familiar with the matter.
Globalstar’s shares, which have more than doubled in market value over the past year, surged 24% to US$85 in extended trading following the report. The company had a market cap of $8.8-billion as of last close.
Covington, Louisiana-headquartered Globalstar is known for its low-Earth-orbit communication satellites and offers voice, data and asset-tracking services across enterprise, government and consumer markets.
Amazon and Globalstar were still negotiating some of the complexities of a potential deal after lengthy talks, according to the report.
One complicating factor has been Apple’s ownership of a 20% stake in Globalstar, necessitating negotiations between Amazon and Apple, the report said.
Globalstar did not immediately respond to a request for comment. Amazon declined to comment.
The reported deal comes as Amazon deploys Leo, formerly known as Project Kuiper, involving 3 200 satellites. Amazon’s network would be the closest rival to Elon Musk’s Starlink, which operates a network of more than 9 500 satellites.
Similar customers
Starlink services more than nine million users globally, and generates 50-80% of SpaceX’s revenue. Its services span individual consumers, businesses and governments, including US national security agencies through its Starshield variant.
Read: Starlink considers building its own phone
Amazon’s Leo, with 180 satellites in orbit so far, is targeting similar customers. — Akanksha Khushi, (c) 2026 Reuters
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