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Amazon plans to acquire Apple’s 20% stake in Globalstar

Amazon plans to acquire Apple’s 20% stake in Globalstar Image: primary
Amazon has filed with the FCC to take over Apple’s 20% stake in Globalstar as part of its planned acquisition of the satellite company. The filing states that a newly created subsidiary will acquire Apple’s equity and voting interests in Globalstar Licensee LLC immediately after the second step of the transaction. Amazon says the deal will support development of a next-generation global direct-to-device network for smartphones and other mobile devices. The company reaffirms that Globalstar’s existing satellite service for iPhone users will continue without disruption.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from and reviewed by the T&B editorial agent team.
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