Rocket Lab set to acquire US$8Bn Iridium Communications

“This is a defining moment for the space industry and the start of a new era of strategic, accelerated growth for Rocket Lab and Iridium,” said Mr Beck.

“Iridium has built the gold standard in secure, safety critical global satellite connectivity. It is relied upon by maritime fleets, the aviation industry, governments and heavy industrial organisations who operate in the most remote off-the-grid locations.”

Rocket Lab plans to invest in the satellite network with potentially a third-generation constellation and use Iridium’s L-band spectrum and 500-plus strong partner ecosystem.

“By marrying Iridium’s deep heritage, trusted infrastructure, and highly sought-after spectrum with Rocket Lab’s extensive and proven launch and manufacturing capabilities, we have the capability to unlock entirely new markets,” said Mr Beck.

“We will go far beyond maintaining that legacy. We are going to build upon it to pioneer next-generation space applications and deliver sought-after capabilities to existing and new customers.”

Iridium’s space-based applications include both proprietary internet of things (IoT), direct-to-device (D2D), PNT, asset tracking and safety-of-life services.

It is only one of two providers of GMDSS to the global maritime industry and back-up communications to tens of thousands of ships with weather-resilient connectivity, while its PNT works where other GNSS services, such as GPS, are degraded or unavailable.

“As the worlds of space and terrestrial communications continue to converge, more critical services will depend on space-based capabilities,” said Iridium chief executive Matt Desch.

“Success will come from those who can bring new innovations to space quickly and sustain them over time as efficiently as possible,” he said.

“We are excited about being able to accelerate the next generation of IoT, maritime PNT and security capabilities, and pursue new innovative applications as part of Rocket Lab.”