Deal values Iridium at $54 per share, combining cash and Rocket Lab stock, with completion expected in mid-2027.
Rocket Lab will acquire satellite communications provider Iridium in an $8bn cash and stock transaction. The deal offers Iridium shareholders $27 in cash and Rocket Lab shares, with an exchange ratio collar between $67.50 and $112.50 per share.
Iridium, also listed on Nasdaq, operates a global satellite network. The acquisition, unanimously approved by both companies’ boards, is subject to regulatory and shareholder approvals. The transaction is set to close in mid-2027.
The combined entity aims to create a vertically integrated satellite company, handling design, launch, and operation of satellite constellations. Rocket Lab highlighted the strategic fit to expand its space-based capabilities.