Key Points
On Thursday, satellite stock prices surged, particularly for Viasat (NASDAQ: VSAT), which rose nearly 19% following reports of a potential acquisition interest from Amazon in Globalstar. The Financial Times reported early Thursday that Amazon has been in discussions to acquire Globalstar, a move aimed at bolstering its low Earth orbit (LEO) satellite internet operations.
While specific acquisition details and amounts were not disclosed, the discussions between Amazon and Globalstar have been ongoing. This is not the first time Globalstar has been anticipated to be a target for acquisition, as previous talks involving companies, including SpaceX, were also reported last year. Neither Amazon nor Globalstar has commented on the reports, and experts caution that the complexities of such large-scale deals can hinder successful completion.
