Amazon announced on Tuesday its intention to acquire satellite communications company Globalstar in a transaction valued at approximately $11.57 billion, marking a significant move to expand its presence in the satellite internet sector and compete more directly with SpaceX’s Starlink.

The purchase will grant Amazon access to Globalstar’s fleet of about two dozen low-Earth orbit satellites, which support services including voice, data, and asset tracking for enterprise, government, and consumer markets. Globalstar is known for powering Apple’s Emergency SOS feature and other satellite-based safety functions on iPhone and Apple Watch devices. In connection with the acquisition, Amazon and Apple have agreed to continue their partnership to support these emergency and location services.

Under the terms of the deal, Globalstar shareholders will have the option to receive either $90 in cash or 0.3210 shares of Amazon common stock for each Globalstar share they hold. The transaction, which Amazon expects to finalize next year, remains subject to regulatory approval and specific operational conditions related to satellite deployment milestones.

Amazon has been aggressively expanding its satellite network with plans to launch approximately 3,200 satellites into low Earth orbit by 2029. About half of those satellites are slated for deployment by a July 2026 regulatory deadline. At present, the company operates over 200 satellites and is preparing to launch satellite internet services later this year. This expansion underlines Amazon’s ambition to establish a substantial satellite internet business capable of challenging Starlink, which currently operates a constellation of roughly 10,000 satellites and serves more than nine million customers worldwide.

Globalstar, based in Louisiana, had announced plans late last year to increase its satellite fleet to 54 units, including backups, as part of a network upgrade partly supported by Apple’s approximate $1.5 billion investment. The acquisition will enhance Amazon’s existing infrastructure and services, reinforcing its bid to become a major player in the growing satellite internet market.