Iridium Communications Acquires Satelles
March 4, 2024
Iridium Communications has agreed to acquire Satelles, a provider of satellite-based Satellite Time and Location (STL) services that harden and complement GNSS timing and location systems. Iridium will pay about $115 million for the remaining ~80% of Satelles (it already owned ~20%), will fold STL into a new Iridium business line led by Satelles CEO Dr. Michael O'Connor, and expects the capability to drive significant service revenue growth.
- Buyers
- Iridium Communications Inc.
- Targets
- Satelles, Inc.
- Industry
- Telecommunications
- Location
- Virginia, United States
- Transaction Type
- Buyout
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