A rocket startup is buying a 30-year-old satellite network for $8 billion (investors.rocketlabcorp.com)
Iridium throws off $871.7M in revenue and a 57% margin on a constellation born from 1990s Motorola. Rocket Lab gets its globally-coordinated L-band spectrum, 2.55 million subscribers, and a guaranteed launch backlog as it scales its Neutron rocket.
The skeptics in the thread aren't sold: a 30-year-old network won't out-speed Starlink, and a much smaller company swallowing one twenty times its size only has to make sense to Wall Street.
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