Rocket Lab agrees to buy Iridium in about $8B cash-and-stock deal

Rocket Lab agreed to acquire satellite operator Iridium Communications, a deal valued at about $8.0 billion in enterprise value, announced June 29, 2026 under a merger agreement dated June 28. Each Iridium share is valued at $54 in notional terms, paid as $27.00 in cash plus Rocket Lab stock set by an exchange ratio with a collar. The company expects the deal to close in mid-2027, subject to stockholder and regulatory approvals.

• $54 per Iridium share in notional value: $27.00 cash plus Rocket Lab stock
• Enterprise value about $8.0B
• Iridium 2025 revenue $871.7M and OEBITDA $495M, a 57% margin
• Exchange ratio 0.4000 at or below $67.50 and 0.2400 at or above $112.50 per Rocket Lab share
• Expected closing mid-2027