Source: Bloomberg
Summary
Amazon has agreed to acquire satellite company Globalstar for $11.57 billion in cash. Globalstar is known for powering Apple’s “Emergency SOS” feature. The deal is expected to expand Amazon’s presence in the satellite industry.
Our Reading
The announcement sounds ambitious.
Amazon is buying Globalstar for a whopping $11.57 billion. Globalstar’s technology is already used in Apple’s “Emergency SOS” feature. This deal is just another example of big tech companies buying their way into new markets. Because what’s a few billion dollars when you want to expand your empire? Amazon’s satellite ambitions just got a major boost, but we’ve seen this movie before.
Author: Evan Null
