Iridium to acquire Satelles, terms not disclosed

Iridium announced that it had entered into an agreement to acquire Satelles, the leader in highly secure satellite-based time and location services that complement and protect GPS and other GNSS-reliant systems. The service, named Satellite Time and Location, is an easy-to-adopt, highly secure solution that increases the efficiency and reliability of timing systems for digital infrastructure like 5G base stations, data centers, and other critical infrastructure and protects against GNSS vulnerabilities using low-cost hardware that doesn’t require outdoor antennas. This acquisition continues Iridium’s philosophy of investing in differentiating technologies uniquely suited to its network that significantly outperform competing solutions. Iridium is assuming all rights to the Satelles patent portfolio and anticipates the Iridium STL line of business will generate over $100M in service revenue per year, by 2030, and additional revenue from equipment and engineering.