Rocket Lab buys its way into the satellite big league with $8B Iridium deal
SpaceX gains a vertically integrated rival as launch specialist adds global comms network
Rocket Lab has agreed to acquire Iridium Communications in an $8 billion cash-and-stock deal, potentially creating another challenger to SpaceX and Amazon for vertically integrated satellite broadband.
Both Rocket Lab and Iridium's boards unanimously agreed to the deal, which was jointly announced on Monday and is expected to close by the middle of next year. Rocket Lab separately described the move in an investor slide deck [PDF] as positioning it as a "fully integrated, self-launching, tier-1 space power" alongside the forces of Amazon/Globalstar and SpaceX/EchoStar. Amazon agreed to acquire Globalstar earlier this year to help serve its nascent Leo satellite operation, while SpaceX agreed to buy spectrum licences from EchoStar in a transaction partly funded with SpaceX shares.
Iridium currently operates a constellation of 80 satellites, 66 of which are active and the rest are on-orbit...
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