Iridium Communications

Rocket Lab to Buy Iridium for $8B, Forging a Fully Vertically Integrated Space Powerhouse

Rocket Lab agreed to acquire satellite-communications operator Iridium Communications in a cash-and-stock deal valuing Iridium at roughly $8.0 billion, or $54 per share. The combination welds Rocket Lab's launch vehicles and satellite manufacturing to Iridium's global L-band constellation, spectrum and 500-plus partner ecosystem -- a bid to become the first company that designs, builds, launches and operates its own networks end to end. Iridium shares jumped about 20% and Rocket Lab rose roughly 9% on the news.