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Amazon's $11B Globalstar Deal Fuels Project Leo's Pursuit of Starlink's Contrails [Yahoo! Finance]
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The billionaires are at it again, as Elon Musk's Starlink and Jeff Bezos-owned Amazon Leo battle for satellite dominance in the stars. Starlink is light-years ahead of Amazon's Project Leo (an acronym for low Earth orbit), previously Project Kuiper. But Leo's preparing to pounce, last week announcing an agreement to buy Globalstar for a whopping $11.6 billion. The transaction's expected to close next year. Globalstar has only 24 satellites in orbit, but what it lacks in metal it makes up for with GPS tracking tech and global licenses that allow its satellites to connect directly to devices. Those licenses could help Amazon race toward actually launching its satellite internet service, slated to go live later this year. Sign up for The Daily Upside at no cost for premium analysis on all your favorite stocks. READ ALSO: US Automakers Poised to Benefit from Pentagon's Request for Manufacturing Support and Saudi's Sovereign Wealth Fund Calls It Quits on Golf … And Maybe More Th
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