Iridium Communications Inc. announced it has completed the previously announced acquisition of the remaining 61% of equity in Aireon Holdings LLC that it did not already own. The transaction gives Iridium 100% indirect ownership of Aireon, which will be consolidated with Iridium's financial results going forward.
Key Details
- Transaction: Acquisition of the remaining 61% of Aireon Holdings LLC, completed on July 2, 2026.
- Purchase Price: The aggregate purchase price was approximately $366.7 million.
- Financing: The price was funded 50% with cash at closing (~$183.4M) and 50% via a one-year, zero-interest deferred loan of $183.36 million from the sellers.
- Debt Assumption: As a result of the acquisition, Iridium will consolidate Aireon's existing credit facility, which has an outstanding principal balance of $154.7 million. Iridium has also provided an unsecured guarantee for this debt.