24/7 Space News
SPACEMART
Iridium to Boost Secure Global Navigation with Satelles Acquisition
illustration only
Iridium to Boost Secure Global Navigation with Satelles Acquisition
by Clarence Oxford
Los Angeles CA (SPX) Mar 05, 2024

Iridium Communications Inc. (NASDAQ: IRDM), a global provider of satellite voice and data communication, disclosed its agreement to acquire Satelles, Inc., a company at the forefront of satellite-based time and location services. This move aims to complement and fortify GPS and other GNSS-reliant systems with Satelles's Satellite Time and Location (STL) service, a secure solution designed to improve the efficiency and reliability of digital infrastructure's timing systems. Such infrastructure includes 5G base stations, data centers, and other vital frameworks, offering protection against GNSS vulnerabilities through low-cost hardware that eliminates the need for outdoor antennas.

The acquisition aligns with Iridium's strategy to invest in technologies that leverage its network's unique capabilities, positioning the company to outperform competing solutions in the assured Positioning Navigation and Timing (PNT) services market.

This market, projected to reach $3.5 billion by 2032, is shifting towards requiring devices that are not only integrated and of small form factor but also offer an alternative to the traditional, larger solutions connected to outdoor GPS antennas. Time synchronization and location data are crucial across various sectors, including financial services, telecommunications, cybersecurity, and transportation, which collectively rely on an estimated 10,000 data centers worldwide.

Iridium's acquisition of Satelles represents a significant step towards reducing size and cost barriers, facilitating the deployment of a more accessible solution for autonomous systems, consumer devices, vehicles, and traditional markets such as aviation, maritime, and land mobile. Moreover, this move offers Iridium's partner ecosystem an opportunity to enhance their GNSS-reliant products and infrastructure.

Matt Desch, CEO of Iridium, emphasized the growth potential of this market and the suitability of STL as a solution that addresses industry needs more effectively than any other available option. The acquisition of Satelles is portrayed as a strategic fit for Iridium, reflecting the company's long-standing commitment to utilizing its network to deliver unparalleled services.

STL leverages the robust broadcast paging channels of the Iridium satellite constellation to provide precise timing information, offering a global, secure time and location signal that is significantly more powerful than those provided by GNSS constellations. The service's resilience to regional GNSS outages, its functionality within buildings, and its current use in securing digital infrastructure for financial markets, governments, and major corporations underscore its value.

Post-acquisition, STL will emerge as a new business line within Iridium, under the leadership of Satelles CEO, Dr. Michael O'Connor, who will report directly to Matt Desch. O'Connor anticipates that integrating STL into Iridium will significantly enhance the capability's impact, benefiting customers and society at large.

Iridium is set to assume all rights to the Satelles patent portfolio, with expectations for the Iridium STL business line to generate over $100 million in service revenue annually by 2030, alongside additional revenue from equipment and engineering. Having already invested in Satelles through three previous stakes, accounting for approximately 20% ownership, Iridium will acquire the remaining interest for about $115 million, net of Satelles's cash reserves, financed through an addition to its term loan.

The transaction, marking Iridium's first acquisition in its history, is anticipated to conclude within the forthcoming weeks. Iridium will further discuss this acquisition during s's Raymond James Annual Institutional Investors Conference and its first quarter 2024 earnings call in April, with additional details available through its Investor Relations website.

Related Links
Iridium Communications
The latest information about the Commercial Satellite Industry

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
SPACEMART
SKorea enhances military operations with Iridium connectivity
Seoul, South Korea (SPX) Feb 29, 2024
In a significant move towards modernizing its military communication infrastructure, the Republic of Korea (ROK) Ministry of Defense has officially integrated Iridium Communications Inc.'s (NASDAQ: IRDM) satellite connectivity into its operational framework. This strategic adoption of Iridium's comprehensive suite of communication solutions marks a pivotal advancement in the ROK Army's capabilities, facilitating unparalleled real-time position tracking and secure data exchange for military personnel. ... read more

SPACEMART
First Arab woman to graduate NASA training shoots for the Moon

New NASA astronauts graduate, eying Moon -- and Mars

Astronauts arrive at International Space Station for swap

SpaceX launches new crew to ISS

SPACEMART
SpaceX eyes March 14 for next Starship test launch

NASA tests limits of updated engines for future Artemis missions

NASA's SpaceX Crew-8 mission docks with International Space Station

Australia's first orbital launch facility license awarded to Bowen Spaceport

SPACEMART
Rover Kinesthetics: Sols 4116-4117

Study determines the original orientations of rocks drilled on Mars

Curiosity successfully drills 40 holes on Mars

Study reveals potential for life's building blocks from Mars' ancient atmosphere

SPACEMART
Shenzhou 17 astronauts complete China's first in-space repair job

Tiangong Space Station's Solar Wings Restored After Spacewalk Repair by Shenzhou XVII Team

Chang'e 6 and new rockets highlight China's packed 2024 space agenda

Long March 5 deploys Communication Technology Demonstrator 11 satellite

SPACEMART
Iridium to Boost Secure Global Navigation with Satelles Acquisition

Sidus Space Sets Public Offering Price

US and Australia signs Space Technology Safeguards Agreement

SKorea enhances military operations with Iridium connectivity

SPACEMART
Apex Launches Aries SN1, Marks a Milestone in Satellite Bus Production with Record-Breaking Build Time

Full Disclousre: Enhanced Radiation Warnings for Space Tourists

Terran Orbital Secures Up to $45 Million NASA Contract for Space Technology Enhancement

AI Enhances Detection of Tiny Space Debris, Paving Way for Safer Space Operations

SPACEMART
JWST images dispersing gas in a planet-forming disk for first time

Bayesian network analysis sheds light on sci-fi and real-world exoplanet representation

Space research sheds new light on formation of planets

More Planets than Stars: Kepler's Legacy

SPACEMART
NASA's Juno Mission Measures Oxygen Production at Europa

UCF scientists use James Webb Space Telescope to uncover clues about Neptune's evolution

Solved at Pitt: What are Saturn's rings made of?

New moons of Uranus and Neptune announced

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.