Rocket Lab to buy satellite communications firm Iridium i…

Rocket Lab announced its acquisition of Iridium Communications in a deal valued at approximately $8 billion. Iridium shareholders will receive $27 in cash and shares from Rocket Lab, equating to a total of $54 per share. This acquisition aims to transition Rocket Lab from primarily a satellite manufacturing and launch entity to a comprehensive space sector company involved in the design, construction, launch, and operation of satellite constellations. The deal is expected to finalize by mid-2027.

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June 29 (Reuters) - Rocket Lab (RKLB.O), opens new tab said on Monday it would acquire satellite communications ‌provider Iridium Communications (IRDM.O), opens new tab in a cash-and-stock deal valued at about $8 billion, marking one of the ⁠biggest consolidation moves in the commercial space industry.

Iridium shareholders will receive $27 in cash and Rocket Lab shares, with a combined value of $54 per Iridium ‌share. ⁠The deal is expected to close in mid-2027.

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The acquisition will transform Rocket Lab ⁠from a satellite-manufacturing and launch company into a fully ⁠integrated space business that designs, builds, launches ⁠and operates satellite constellations.

Reporting by Akash Sriram in Bengaluru; Editing by Joyjeet Das

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Rocket Lab to buy satellite communications firm Iridium in $8 billion deal

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