In a bold move, Rocket Lab acquires Iridium Communications
"We believe this will be one of the most transformative deals in the space industry."
Rocket Lab announced on Monday that it is acquiring the satellite communications company Iridium. The deal, made for cash and shares of Rocket Lab stock, values Iridium at about $8 billion.
The deal pairs the launch company, founded and led by Peter Beck, with a decades-old profitable satellite company whose network of 80 satellites in low-Earth orbit provides telecommunications services.
"We believe this will be one of the most transformative deals in the space industry," Beck said in a short promotional video announcing the deal. "It's the ultimate combination for growth."
This story was first published by Ars Technica. Read the original report