Rocket Lab(NASDAQ: RKLB), a developer of reusable orbital rockets, recently agreed to acquire Iridium(NASDAQ: IRDM), a provider of satellite communications services, for approximately $8 billion. It expects to close the cash-and-stock deal by mid-2027.
Image source: Getty Images.
Rocket Lab generates most of its revenue from launch services for its Electron rockets (and upcoming Neutron rockets) and from the sale of satellite subsystems. These businesses are growing, but they're capital-intensive and operate at low margins. SpaceX's (NASDAQ: SPCX) upcoming Starship rocket could exacerbate that pressure by drastically reducing launch costs.
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