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Amazon buys Covington’s Globalstar for $11.6B to bolster Leo satellite network
Amazon is acquiring Covington-based Globalstar for $11.57 billion to enhance its low Earth orbit (LEO) satellite network, Leo, intensifying its competition with Elon Musk’s Starlink in the satellite internet services market. This acquisition follows other significant financial developments in Louisiana, including Textron Systems’ $5.8 million expansion in Southeast Louisiana and SwiftSight’s $450,000 early-stage venture capital funding. The article highlights these “money moves” as part of a recurring series charting funding news in tech across various regions.