Amazon 于周二表示将以11.6亿美元 (11.6 billion USD) 收购 Globalstar，采取现金与股票组合。每位 Globalstar 股东可选择每股90美元现金或0.32股 Amazon 股票，后者每股估值上限为90美元，且现金总额上限为交易总额的40%。该要约较 Globalstar 十月下旬股价溢价约117%，预计于2027年完成，将成为 Amazon 在 Whole Foods 之后的第二大收购案。市场反应明显：Globalstar 上涨9.6%，收于79.91美元；Amazon 上涨3.8%，收于249.02美元；AST SpaceMobile 亦下跌近11%，至88.57美元。
这笔交易的核心价值在于 Globalstar 的 FCC 授权电波频谱，Amazon 先前缺乏可用于星对手机 direct-to-device 的频谱。Amazon Leo 目前只有约200颗卫星进行有限商用测试，目标是未来超过7,700颗；Amazon 也曾向 FCC 申请延长或豁免7月前部署1,600颗卫星的时限。Amazon 同时宣布将于2028年推出 direct-to-device 服务，并称其可在传统基地台薄弱地区提供更快更稳定的连线。对照之下，Starlink 已部署10,000颗卫星、服务1,000万人，显示 Amazon 在预期将达到2,000亿美元(200 billion USD) 的市场中仍有明显规模差距。
Amazon 指出 Apple 紧急讯息服务将转移至 Amazon Leo，这有助于弥补其在大型企业合作上落后 SpaceX 的短板；Amazon 仅于近期签下 Delta 用于机上 Wi-Fi，反观 Starlink 先前已与 United、Southwest、British Airways、Air France 和 Emirates 等航空公司合作。 在 direct-to-device 竞逐中，SpaceX 与 AST SpaceMobile 长期为主要玩家，但 AST 仍处于早期，合作仍多停留在与 AT&T、Verizon 等运营商的初步连动。SpaceX 先前以170亿美元(17 billion USD)收购 EchoStar 频谱并与 T-Mobile 结合，提供缺乏地面网路区域服务，进一步巩固先发优势；FCC 主席 Brendan Carr 表示开放态度，显示此案可能带来更有实质部署能力的新竞争者。
Amazon said on Tuesday it will buy Globalstar for $11.6 billion in a cash-and-stock combination. Each Globalstar shareholder can choose $90 in cash per share or 0.32 Amazon shares valued at up to $90 each, with total cash capped at 40% of total consideration. The offer is about a 117% premium versus Globalstar’s late-October price and is expected to close in 2027, making it Amazon’s second-largest deal after Whole Foods. Market reaction was clear: Globalstar rose 9.6% to $79.91, Amazon rose 3.8% to $249.02, while AST SpaceMobile fell nearly 11% to $88.57.
The key value of the transaction is Globalstar’s FCC-licensed spectrum, because Amazon has so far lacked spectrum for satellite-to-phone direct-to-device service. Amazon Leo currently has only about 200 satellites in limited commercial tests and has a target of more than 7,700 in the future; Amazon also asked the FCC to waive or extend the July deadline to place 1,600 satellites. Amazon also announced a 2028 launch of direct-to-device and said it can deliver faster and more reliable connections where traditional cell towers are weak. By contrast, Starlink already has 10,000 satellites serving 10 million people, showing Amazon still faces a large scale gap in a market expected to reach $200 billion.
Amazon said Apple’s emergency messaging service will move to Amazon Leo, which helps offset Amazon’s slower enterprise partnership pace compared with SpaceX; Amazon has only recently signed Delta for onboard Wi-Fi, while Starlink previously had partnerships with United, Southwest, British Airways, Air France, and Emirates. In the direct-to-device race, SpaceX and AST SpaceMobile have long been the main players, though AST remains at an early stage with partnerships still largely limited to operators such as AT&T and Verizon. SpaceX later reinforced its lead by purchasing EchoStar spectrum for $17 billion and integrating with T-Mobile to serve non-terrestrial areas, and FCC Chair Brendan Carr’s openness suggests the deal could produce a stronger deployable competitor.