Globalstar shares jumped 14% in premarket trading on Tuesday after reports said Amazon is close to a deal to buy the satellite operator. The agreement could be announced as soon as Tuesday. It would value Globalstar at about $9.37 billion, based on Monday’s closing price.

If completed, the deal would give Amazon an operational satellite network right away. It would help speed up its Amazon Leo initiative, previously called Project Kuiper. The project aims to launch over 3,000 satellites by the end of the decade. These will be used to provide space-based connectivity for Amazon Web Services clients and other commercial customers. With Globalstar’s current fleet and expansion plans, Amazon could shorten its buildout timeline. Amazon could use an existing platform instead of starting from scratch.

After the news broke, Amazon shares fell 0.7% as investors weighed the usual acquirer discount and considered the costs and challenges of integrating such a large deal.

Globalstar’s stock has more than tripled in the past year. The first big jump came after a commercial deal with Apple, which included up to $1.5 billion in funding. That was $1.1 billion for new satellites and $400 million for a 20% passive equity stake in the company running Globalstar’s new constellation. Apple does not have a seat on the board under this deal. This setup has made it easier for Amazon to pursue an acquisition. Amazon does not have to negotiate governance rights with a major co-investor.

The 14% premarket jump shows that traders are confident the deal will go through after the Bloomberg report. The remaining risk depends on the final terms. It also depends on how long regulators take to review the deal, and how Apple’s passive equity stake will be handled.