- Rocket Lab announced a deal to purchase Iridium for $54 per share, consisting of $27 in cash and the remainder in stock, valuing the company at $8 billion.
- The acquisition gives Rocket Lab control over Iridium's constellation of 66 low-Earth-orbit satellites, which serve 2.55 million subscribers across government, aviation, and maritime sectors.
- The deal is supported by $3.6 billion in financing from Deutsche Bank and Wells Fargo and is expected to close in 2027.
- This move follows significant investments in the satellite sector by rivals, including SpaceX's $17-billion spectrum acquisition and Amazon's $11.6-billion purchase of Globalstar.
Quotes
“We are going to absorb it, optimize it and scale it into something that is really truly fantastic”