$RKLB (+0,4 %) / $IRDM (+0,25 %) : Rocket Lab and Iridium Communications today announced they have entered into a definitive agreement under which Rocket Lab will acquire Iridium.
Rocket Lab will acquire all the outstanding shares of Iridium common stock for $54 per share in a cash and stock transaction.
This represents an enterprise value for Iridium of approximately $8.0 billion.
The transaction will give Rocket Lab an immediate foothold in space-based applications, including both proprietary and standards-based satellite Internet of Things (IoT) and direct-to-device (D2D), PNT, and critical safety-of-life services, creating a formidable challenger in the global telecom market.
Rather than simply continuing the Iridium network, Rocket Lab will build upon it to scale into untapped markets and pioneer new space-based services to the benefit of global customers.
"This is a defining moment for the space industry and the start of a new era of strategic, accelerated growth for Rocket Lab and Iridium," said Sir Peter Beck, founder and CEO of Rocket Lab.
"Iridium has built the gold standard in secure, safety critical global satellite connectivity. It is relied upon by maritime fleets, the aviation industry, governments, and heavy industrial organizations who operate in the most remote off-the-grid locations.
By marrying Iridium's deep heritage, trusted infrastructure, and highly sought-after spectrum with Rocket Lab's extensive and proven launch and manufacturing capabilities, we have the capability to unlock entirely new markets.
We will go far beyond maintaining a legacy; we are going to build upon it to pioneer next-generation space applications and deliver sought-after capabilities to existing and new customers."
(Post by @SpaceInvestor_D on X)
