Amazon announced it will acquire satellite communications company Globalstar for approximately $11.6 billion, purchasing the company's low-Earth orbit satellite network, spectrum licenses, operations, and assets.

The acquisition will allow Amazon to integrate Globalstar's existing satellite infrastructure with its planned Project Kuiper internet satellite constellation. Globalstar operates a network of satellites that currently provides communications services including emergency messaging capabilities for smartphones.

Apple currently owns a 20 percent stake in Globalstar and has utilized the company's satellite network for services such as Emergency SOS features on iPhones. As part of the acquisition agreement, Amazon will continue to support these existing satellite services that Apple and other customers rely on.

The deal positions Amazon to compete more directly with SpaceX's Starlink service in the growing market for satellite-based internet connectivity. Amazon's Project Kuiper aims to deploy thousands of satellites to provide broadband internet access globally, particularly in underserved areas.

The transaction requires regulatory approval and standard closing conditions. Financial terms indicate Amazon is paying a significant premium to acquire Globalstar's established satellite infrastructure and valuable spectrum rights for space-based communications.