Rocket Lab to Buy Iridium in Challenge to SpaceX
Bloomberg 2026-06-29 15:35:00
Context: Rocket Lab, a player in the orbital economy, has agreed to acquire Iridium, a pioneer in satellite telephones, in a bid to challenge market leader SpaceX. The acquisition is set to take place through a cash-and-stock transaction. This deal comes as smaller players in the industry attempt to catch up with SpaceX.
Key Facts
- Rocket Lab will acquire Iridium for $54 a share in a cash-and-stock transaction.
- The acquisition is part of Rocket Lab's efforts to challenge SpaceX, the market leader in the orbital economy.
- Rocket Lab CEO Peter Beck discussed how the deal came together in an interview with Ed Ludlow on "Bloomberg Tech."
- The deal involves Iridium, a company that has been a pioneer in satellite telephones.
- The acquisition is a strategic move by Rocket Lab to expand its presence in the orbital economy.