Long Beach-based Rocket Lab announced it struck an $8 billion deal Monday to buy Iridium, a satellite communications company, in an aggressive move to strengthen the upstart rocket-and-satellite company’s challenge to SpaceX in the commercial space industry.
Rocket Lab agrees to pay $54 a share in cash and stock, a 24% premium over Iridium’s last closing price. The transaction is expected to close in mid-2027, pending regulatory approval.
“This will be one of the most transformative deals in the space industry,” said Peter Beck, chief executive of Rocket Lab, in a recorded presentation…