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.
Location
Virginia, United States
Transaction Type
Buyout

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