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Rocket Lab to buy Iridium for $8 billion, ending Iridium’s independence
Rocket Lab announced the purchase of satellite communications provider Iridium. The $8 billion deal combines launch capabilities with an existing satellite network and spectrum holdings.
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Rocket Lab announced Monday that it will acquire satellite communications provider Iridium for $8 billion in cash and stock. The transaction gives Rocket Lab control of Iridium's constellation of satellites that deliver global voice and data services. It also adds Iridium's wireless spectrum holdings to Rocket Lab's existing launch and spacecraft manufacturing operations.
A Rocket Lab spokesperson stated that vertical integration is at the heart of the combination because it enables the company to build, launch, and operate its own spacecraft quickly and cost-effectively. Rocket Lab is a Long Beach launch company that has conducted multiple orbital missions.
Rocket Lab founder and CEO Peter Beck discussed the transaction and the state of the space sector in a CNBC interview.
The deal expands Rocket Lab's footprint in wireless spectrum while adding an operational satellite communications business.
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CorroborationModerate · 3 sources
