IRDM

Iridium Communications announced it will acquire the remaining 61% stake in Aireon, a space-based air traffic surveillance company, for approximately $366.7 million. Iridium already holds a partial ownership position in Aireon, and this deal would make Aireon a wholly owned subsidiary. No additional financial terms or closing timeline were disclosed in the headline.

Iridium Communications stock rose 22% this week after Amazon announced an $11 billion acquisition of rival satellite operator Globalstar. The deal, which integrates Globalstar's direct-to-device satellite services into Amazon's LEO network, has boosted investor sentiment across the satellite communications sector. The move signals growing strategic interest in satellite companies for telecom, defense, and AI data center use cases.