BALLYSEEDE, Ireland — Rocket Lab is purchasing mobile satellite service provider Iridium Communications for $54 per Iridium share, a 29% increase of where the stock was trading in the week before the June 29 announcement, and promised investors it would assure a new period of high growth for the Iridium business.
“Rather than simply continuing Iridium’s network, we will build upon it and scale it into untapped markets and pioneer new space-based services,” Rocket Lab Chief Executive Peter Beck said in a June 30 investor presentation.
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