In a bold move, Rocket Lab acquires Iridium Communications

“Success will come from those who can bring new innovations to space quickly and sustain them over time as efficiently as possible,” Desch said in a statement. “We’re excited about being able to accelerate the next generation of IoT, aviation, maritime, PNT, and national security capabilities, and pursue new innovative applications as part of Rocket Lab.” Competing with SpaceX This is a bold move by Rocket Lab, which has been on a buying spree as it seeks to scale up its operations to compete with SpaceX and Blue Origin, both of which also have launch capabilities and seek to operate large constellations. In the last two years, Rocket Lab has acquired both Geost and Mynaric to improve its spacecraft-building capabilities. But both of these acquisitions, valued in the low hundreds of millions of dollars, were dwarfed by the Iridium deal. Iridium is a company with a long history. First founded in 1998, it had to be rescued from bankruptcy only a couple of years later by the US government due to the difficulty of building and launching a commercial satellite communications network. Arriving as CEO in 2006, Desch developed a plan for a next-generation constellation and worked with SpaceX and its Falcon 9 rocket to get it launched in the 2010s. For a time, Iridium was SpaceX’s most important commercial launch customer. Those satellites generate the bulk of Iridium’s revenue today. …