Amazon announced Tuesday it will acquire satellite communications firm Globalstar in an $11.57 billion deal, marking a significant escalation in its push to compete in the rapidly growing satellite internet market. The acquisition is aimed at strengthening Amazon’s existing infrastructure and accelerating the deployment of its low-Earth orbit satellite network.

Under the terms of the agreement, Globalstar shareholders can choose to receive either $90 in cash or 0.3210 shares of Amazon stock for each share they own. The deal sent Globalstar shares higher in premarket trading, continuing a broader upward trend fueled by speculation leading up to the announcement.

The acquisition builds on Amazon’s satellite initiative originally launched in 2019 by founder Jeff Bezos, which has since evolved into a broader effort to deliver global broadband coverage. Amazon is aiming to deploy approximately 3,200 satellites by 2029, with about half required to be operational by a regulatory deadline in July 2026. The company currently operates more than 200 satellites and is preparing to launch its internet service later this year.

The move positions Amazon more directly against SpaceX’s Starlink, which remains the dominant player in the sector. Starlink operates a constellation of more than 10,000 satellites and serves over nine million users worldwide, giving it a substantial lead in both infrastructure and customer base.

Globalstar, headquartered in Covington, Louisiana, operates a smaller network of roughly two dozen satellites and provides voice, data, and asset-tracking services across government, enterprise, and consumer markets. The company is also known for supporting Apple’s emergency satellite communication features, including its Emergency SOS functionality.

As part of its expansion plans, Globalstar has been developing an upgraded satellite network backed in part by Apple, which is expected to increase its total satellite count to more than 50 in the coming years.

Amazon’s acquisition reflects intensifying competition in the satellite communications sector, where companies are racing to secure market share in global broadband and connectivity services. The deal underscores the growing strategic importance of space-based infrastructure as demand for high-speed internet access continues to expand worldwide.