Amazon Buys Satellite Company Globalstar

Amazon is buying the satellite company Globalstar.

The deal is worth about $11.57 billion. Amazon says the purchase will help its young satellite business grow faster.

Globalstar already works in satellite communications. Amazon wants to use that system to offer more services, including connections for phones in places without normal mobile coverage.

The move also shows that Amazon wants to compete more directly with SpaceX and its Starlink network.