Rocket Lab continues buying spree by acquiring satellite company Iridium
Launch company Rocket Lab is buying satellite operator Iridium , putting it in a position to become a more full-fledged space services company and continuing a wave of consolidation in the industry.
Launch company Rocket Lab is buying satellite operator Iridium , putting it in a position to become a more full-fledged space services company and continuing a wave of consolidation in the industry.
The short version
- The deal, which hasn’t yet closed, will see Rocket Lab acquire Iridium’s stock for $54 per share, valuing the satellite company at $8 billion.
- This is one of several acquisitions for Rocket Lab this year.
- The company previously bought space robotics company Motiv in May, acquired laser communications provider Mynaric in April, and purchased a precision component manufacturer in February.
- It also bought optical sensor defense contractor Geost last year.
What happened
Iridium not only operates dozens of satellites currently in orbit, but it also owns a bundle of valuable spectrum. Rocket Lab said in a press release Monday that it plans to “build upon” Iridium’s existing network in order to “scale into untapped markets and pioneer new space-based services to the benefit of global customers.”
Why it matters
Rocket Lab’s announcement comes after years of consolidation among space and satellite companies, including Viasat acquiring Inmarsat, a private equity firm buying Maxar in 2023, and Lockheed Martin purchasing satellite manufacturer Terran Orbital in 2024.
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