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Officially: Amazon $AMZN acquires $GSAT in a deal worth $11.57 billion to compete with Starlink
Acquisition value = $90 per share ( paid to shareholders in cash or through exchange for 0.3210 shares of Amazon )
The goal is to strengthen Amazon's Project Kuiper satellite network to counter Elon Musk's dominance ( Starlink currently owns 10,000 satellites and serves 9 million users )
Amazon also signed a parallel agreement with Apple to ensure the continued operation of space emergency services ( Emergency SOS ) for iPhones and Apple Watches ( Apple previously invested $1.5 billion in $GSAT )
The deal is expected to close in... 2027