, April 15 -- Amazon has announced plans to spend about $11.57 billion to acquire Globalstar, aiming to expand its satellite business and compete more strongly in the growing space-based internet market.

The deal, revealed on Tuesday, will help Amazon accelerate its long-running low-earth orbit satellite initiative, known as Project Leo, by deploying thousands of satellites to support internet and mobile services.

Amazon said the acquisition aligns with its long-term plan to strengthen space-based connectivity and build a next-generation satellite network, which is expected to be operational by 2028.

The move will intensify competition with Starlink, launched in 2019 by Elon Musk. Starlink currently has a major lead, with more than 10,...