Rocket Lab pivots to space services with Iridium acquisition

Rocket Lab will acquire Iridium for $8 billion (54 per share in cash and stock), a move CEO Peter Beck calls the logical next step into space services, using Iridium’s L-band network to enable new applications and a vertically integrated model of rockets, satellites and services. The deal is expected to close in mid-2027 after regulatory approvals, and Iridium NEXT remains healthy, giving Rocket Lab time to scale opportunities and pursue recurring revenue beyond its launch manufacturing. The companies will maintain Iridium’s current service, with Rocket Lab aiming to expand the offering, although specifics were not disclosed; the transaction does not affect Rocket Lab’s ongoing work with Globalstar.