Rocket Lab Is Set to Acquire Satellite Telecom Giant Iridium for $8 BIllion

The space race is getting interesting. Just two weeks after Space Exploration Technologies (NASDAQ:SPCX) completed its record-setting IPO, Rocket Lab (NASDAQ:RKLB) made a major move Monday to evolve into an integrated space company that also includes rocket launches and satellite communications.Rocket Lab on Monday announced plans to purchase Iridium Communications (NASDAQ:IRDM) in a cash-and-stock deal valued at $8 billion. The proposed deal, once approved, will link Rocket Lab’s launch and satellite manufacturing business with Iridium’s global satellite network. Iridium’s L-band spectrum and low-Earth-orbit satellite network currently have more than 2.55 million global subscribers among government, defense, aviation, maritime, and commercial customers.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool