Amazon has to buy out Apple's 20% Globalstar stake as acquisition rolls on
Amazon is set to acquire Globalstar, which includes buying out Apple's 20% stake in the satellite firm. The acquisition, valued at $11 billion, will lead to the creation of a subsidiary named Grapefruit to manage the transition. Apple will not retain its shares or voting rights but will continue to benefit from satellite services for its devices.
- ▪Amazon's acquisition of Globalstar is valued at $11 billion.
- ▪Apple will sell its 20% stake in Globalstar as part of the deal.
- ▪A new subsidiary named Grapefruit will manage the transition and operations post-acquisition.
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News Amazon has to buy out Apple's 20% Globalstar stake as acquisition rolls on Malcolm Owen 0 e-mail BlueSky Mastodon X Facebook Reddit Wed May 27 2026, 02:12 PM EDT · 1 minute read Messages via Satellite - Image Credit: Pixabay/Terry McGraw Apple won't be holding onto its 20% stake in Globalstar once Amazon's acquisition of the satellite firm concludes, with the shares set to be held by a "Grapefruit" company instead. On April 14, Amazon agreed to acquire satellite service provider Globalstar in an $11 billion deal. The purchase adds Globalstar to Amazon's existing satellite portfolio, which includes its Leo business. However, Apple holds 20% of the shares in Globalstar, under a $1.1 billion commitment from 2024, which included a $400 million share purchase.
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