IRDM News & Events

Iridium Communications announced that it has completed its acquisition of Aireon. As part of Iridium, Aireon will continue operating as a wholly owned subsidiary focused on delivering industry-leading air traffic surveillance and aviation data services. Don Thoma will continue to serve as Aireon's Chief Executive Officer and will report to Iridium's Chief Executive Officer Matt Desch, ensuring both leadership continuity and close alignment with Iridium's broader strategy.

Morgan Stanley analyst Justin Lang raised the firm's price target on Iridium (IRDM) to $54 from $26 and keeps an Equal Weight rating on the shares after the company announced plans to be acquired by Rocket Lab (RKLB) for about $54 per share in cash and stock. The firm, which views Iridium as a largely complementary asset to Rocket Lab's existing business, sees "a compelling rationale for this transaction," the analyst tells investors.

Citizens analyst Trevor Walsh raised the firm's price target on Rocket Lab (RKLB) to $130 from $95 and keeps an Outperform rating on the shares after the company agreed to acquire Iridium (IRDM) in an $8B deal. The deal accelerates Rocket Lab's expansion into space applications, and creaties a vertically integrated space platform spanning launch, spacecraft manufacturing, spectrum, and on-orbit communications services, the analyst tells investors in a research note.