M&A · Tech · Communications Services, NEC
Rocket Lab Corp to acquire Iridium Communications Inc.
Announced Jun 29, 2026 · Pending Aug 26, 2026
Deal value$8.00BEV $8.00B
Premium—To unaffected price
EV / Adj. EBITDA16.3x9.1x EV / Revenue
ConsiderationCash and stock$54.00 per share
Transaction
- Acquirer
- Rocket Lab Corp (RKLB)
- Target
- Iridium Communications Inc. (IRDM)
- Buyer type
- Strategic
- Offer price per share
- $54.00
- Enterprise value
- $8.00B
- Status
- Pending Aug 26, 2026
Deal protections
- Break fee (target pays)
- $224M · 2.8%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- Committed · Deutsche Bank, Wells Fargo
Advisors
- To the acquirer
- Deutsche Bank, Wells Fargo, PJT Partners
- To the target
- Evercore
- Evercore fee
- $73.6M
Sector context · Tech
- Comparable deals
- 69 in the prior 24 months
- Premium
- Sector median 39.5%
- EV / Adj. EBITDA
- 16.3x vs. 15.4x sector median
- Break fee
- 2.8% vs. 3.0% sector median
Timeline
- AnnouncedJun 29, 2026
- Proxy filedAug 26, 2026
- Definitive proxyAug 26, 2026
- Shareholder votePending
- ClosedPending
Valuation · fairness opinions
Trading comparables$19.35$38.54
Trading comparables$20.17$41.07
Precedent transactions$28.69$47.77
Discounted cash flow$29.97$45.54
Trading comparables$61.22$99.03
Offer $54.00
Implied value per Iridium Communications Inc. share by analysis, from Evercore · DCF discount rate 9%–10%.