Amazon.com Inc.’s $11.6 billion deal to buy Globalstar Inc. ramps up competition with Elon Musk’s Starlink in satellite communications, a market predicted to double to $200 billion in the coming years.

Amazon.com said on Tuesday it ⁠would ⁠acquire Globalstar in an $11.57 ⁠billion deal, bolstering its fledgling satellite business as it ​looks to take on bigger rival SpaceX's Starlink. Shares of satellite company Globalstar ‌were up more than 9% ‌in premarket trading,

The e-commerce giant is buying Globalstar, a satellite communications company, as it aims to expand its own satellite internet service to compete with Elon Musk’s Starlink.

Amazon.com Inc. agreed to acquire satellite operator Globalstar Inc. in a roughly $11.6 billion deal that would expand the services of its satellite system.

Amazon.com said on Tuesday it will acquire Globalstar in ​an $11.57 billion deal, bolstering its fledgling satellite business as it tries to catch up with Elon Musk's Starlink.

Amazon said it would acquire Globalstar, giving its nascent satellite internet business a boost as it vies to compete with Elon Musk's SpaceX.

Amazon said Tuesday that it had signed a deal to buy the US telecoms satellite group Globalstar to expand its own space-based internet network and compete with Elon Musk's Starlink.

Reading time 2 minutes Amazon is acquiring satellite operator Globalstar, the tech giant announced on Tuesday morning. The acquisition is the latest signal that Amazon is determined to become a major competitor to Elon Musk’s Starlink.