24 days ago
- Rocket Lab will acquire Iridium in a cash and stock transaction valued at $54 per share, implying an enterprise value of approximately $8.0 billion for Iridium.
- The acquisition aims to create a vertically integrated space company by combining Rocket Lab's launch and satellite manufacturing with Iridium's global network, spectrum, and partner ecosystem.
- The transaction provides Rocket Lab immediate access to space applications like satellite IoT, direct-to-device services, PNT, and safety-of-life services, positioning it as a competitor in the global telecom market.
- Iridium's L-band spectrum and LEO satellite network offer secure, resilient communications and PNT services, supporting over 2.55 million subscribers worldwide.
- The deal is expected to be completed in mid-2027, pending regulatory approvals and stockholder consent, with Rocket Lab securing a $3.6 billion bridge loan for financing.