Launch company Rocket Lab is buying satellite operator Iridium, putting it in a position to become a more full-fledged space services company, and continuing a wave of consolidation in the industry.

The deal, which hasn’t yet closed, will see Rocket Lab acquire Iridium’s stock for $54 per share, valuing the satellite company at $8 billion.

This is one of several acquisitions for Rocket Lab this year. The company previously bought space robotics company Motiv in May, acquired laser communications provider Mynaric in April, and purchased a precision component manufacturer in February. It also bought optical sensor defense contractor Geost last year.

Iridium not only operates dozens of satellites currently in orbit, but it also owns a bundle of valuable spectrum. Rocket Lab said in a press release Monday that it plans to “build upon” Iridium’s existing network in order to “scale into untapped markets and pioneer new space-based services to the benefit of global customers.”

Rocket Lab’s announcement comes after years of consolidation among space and satellite companies, including ViaSat acquiring Inmarsat and a private equity firm buying Maxar in 2023, and Lockheed Martin purchasing satellite manufacturer Terran Orbital in 2024. In April 2026, Amazon — which is building a space-based internet competitor to SpaceX’s Starlink — bought satellite company Globalstar for $11.6 billion.