Rocket Lab to acquire Iridium Communications for $8 billion to rival SpaceX

Rocket Lab has announced a plan to acquire Iridium Communications in an $8 billion deal. The merger will combine Rocket Lab's launch services and spacecraft manufacturing capabilities with Iridium's established satellite communications network. Iridium currently serves over 2.5 million subscribers worldwide through a constellation of 66 low-Earth orbit satellites using L-band spectrum. The network supports connectivity for users in remote locations, including those aboard ships and aircraft. The acquisition is seen as a strategic move to better position Rocket Lab as a competitor to SpaceX in the satellite communications market.