What Happened
Space Company Acquires Iridium To Own Launch, Spacecraft, And Services
Rocket Lab Corp. has acquired Iridium Communications Inc. for $8 billion, expanding its business beyond launch services to include spacecraft and services. The deal adds a 66-satellite low-Earth-orbit network and 2.5 million subscribers to Rocket Lab’s portfolio. According to CEO Peter Beck, the acquisition is part of a strategy to own every layer of the space industry, similar to SpaceX. This move is expected to generate recurring service revenue and reduce third-party launch costs. The acquisition was reported by Benzinga.