Amazon (AMZN.US) had earlier announced plans to acquire Globalstar for approximately USD11.6 billion, Citi said in a report. The broker believed that, leveraging Globalstar's satellite assets, spectrum resources and operational capabilities, the acquisition will evidently accelerate the full deployment of Amazon's LEO initiative, enhance its technological capabilities and enrich its product portfolio.

As part of the transaction, Amazon also announced that Amazon LEO will provide satellite connectivity services for iPhone and Apple Watch, further extending Globalstar's existing partnership with Apple.

Given accelerating revenue growth and continued improvement in profitability, Citi reiterated its Buy rating on Amazon with a TP of USD285.
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AASTOCKS Financial News
Website: www.aastocks.com

This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

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