2 hours ago - Business

Rocket Lab expands space biz with $8 billion deal

Dan Primack

Illustration of a constellation tracing forming the shape of two hands shaking — Illustration: Annelise Capossela/Axios

Rocket Lab on Monday said it's agreed to acquire Iridium Communications for $8 billion in cash and stock.

Why it matters: This could eat into SpaceX's end-to-end space biz, by combining Rocket Lab's launch and satellite manufacturing business with Iridium's satellite network.

Zoom in: Iridium shareholders would receive the equivalent of $54 per share, including $27 in cash, which represents a 24% premium over Friday's close.

Go deeper, via SpaceNews: "Iridium operates a constellation of 66 satellites, with 14 on-orbit spares, that provides phone and data services using L-band spectrum. That includes aviation tracking services ... as well as a recent push into positioning, navigation and timing services."

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Rocket Lab expands space biz with $8 billion deal

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