Iridium Communications IncRocket Lab to acquire Iridium at $54 per share, a premium that benefits Iridium shareholders.
SpaceX will join the Nasdaq-100 index on July 7, one of the fastest inclusions in the exchange's history, triggering buying from index funds and sending shares up 8%. Separately, Rocket Lab agreed to acquire Iridium Communications in a cash-and-stock deal valued at roughly $8 billion, with Iridium shareholders set to receive $54 per share; Rocket Lab shares jumped 16% on the news. The deal, expected to close in mid-2027 pending regulatory approval, combines Rocket Lab's launch and satellite manufacturing capabilities with Iridium's satellite communications network and over 500 partners, creating a vertically integrated space company. SpaceX's Starlink segment generated over $11.4 billion in revenues and $4.4 billion in operating income last fiscal year, while Rocket Lab's annual sales are expected to increase 55% this year and another 35% in fiscal 2027 to $1.26 billion.
Iridium Communications IncRocket Lab to acquire Iridium at $54 per share, a premium that benefits Iridium shareholders.
Rocket Lab USA Inc.Rocket Lab announced acquisition of Iridium, creating a vertically integrated space company; shares jumped 16%.
Space Exploration Technologies Corp. Class A Common StockSpaceX to join Nasdaq-100 index, triggering index fund buying and sending shares up 8%.