Iridium to Expand its Reach as a Global Alternative PNT Service.„
This is how Iridium presents the acquisition of its partner Satelles. On September 4 mars 2024, Iridium Communications, strategic partner of the company Satelles of which it already owns 20% of capital, has announced its full acquisition, to become Iridium's "Satellite Time and Location" business unit. Iridium buys the 80% of capital remaining for approximately 115 million dollars (¹).
With this acquisition, Iridium aims to provide a PNT service (²) more robust and reliable than current GNSS networks (³). Read more …