Iridium Communications Inc. (NASDAQ: IRDM) has announced the acquisition of Satelles, Inc. Satelles, known for its Satellite Time and Location (STL) service, offers a highly secure and efficient PNT solution that is set to enhance Iridium’s existing satellite communication services.
The integration of Satelles’ STL into Iridium’s portfolio addresses the critical need for reliable PNT services amidst growing concerns over GNSS vulnerabilities. STL’s innovative use of Iridium’s satellite constellation aims for enhanced timing and location accuracy, even in environments where GNSS signals are compromised.
Iridium’s acquisition of Satelles is timely, aiming to reduce the size and cost barriers associated with adopting new PNT technologies. This move not only caters to traditional markets like aviation, maritime, and land mobile but also paves the way for STL’s integration into consumer devices and autonomous systems.
Iridium CEO Matt Desch highlighted the acquisition as a strategic alignment with the company’s commitment to enhancing global communication services. “Acquiring Satelles aligns perfectly with our strategy to offer unique and superior solutions. STL stands as the premier alternative to GNSS, ensuring our network provides unmatched reliability and security,” said Desch.
Satelles CEO Dr. Michael O’Connor will join Iridium to head the STL business line. With projections of over $100 million in annual service revenue by 2030, this acquisition signifies Iridium’s first foray into expanding its reach as a global alternative PNT provider. The transaction sees Iridium acquiring the remaining stake in Satelles for approximately $115 million.
