{"success":true,"data":{"pressRelease":{"id":"34718","rtpr_id":"nPretBDBGa","ticker":"IRDM","exchange":"NASDAQ","all_tickers":["IRDM"],"title":"Iridium to Acquire Aireon, Advancing its Strategy to Lead the Future of Aviation Safety","author":"PR Newswire","published_at":"2026-05-14T11:01:00.311Z","article_body":"Iridium to Acquire Aireon, Advancing its Strategy to Lead the Future of\nAviation Safety\nPR Newswire\n\nMCLEAN, Va., May 14, 2026\n\nThe transaction unifies the world's only space-based air traffic surveillance\nsystem with the satellite network it was built on and extends commercial\npartnerships with NAV CANADA and NATS through 2035 and beyond.\n\nMCLEAN, Va., May 14, 2026 /PRNewswire/ -- Iridium Communications Inc.\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4688590-1&h=433945102&u=https%3A%2F%2Fwww.iridium.com%2F&a=Iridium+Communications+Inc.)\n(Nasdaq: IRDM), a leading provider of global voice, data, and positioning,\nnavigation, and timing (PNT) satellite services, today announced that it has\nentered into a definitive agreement to acquire Aireon LLC\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4688590-1&h=4027364556&u=https%3A%2F%2Fwww.aireon.com%2F&a=Aireon+LLC),\noperator of the world's only space-based Automatic Dependent\nSurveillance-Broadcast (ADS-B) air traffic surveillance system. The\nacquisition of Aireon is a defining step in Iridium's strategy to provide the\nfoundational architecture for global aviation safety, bringing space-based\nsurveillance, safety communications, PNT, and operational data together on a\nsingle network.\n\n\"Aireon has always been part of Iridium's aviation safety strategy. We founded\nit in partnership with the world's leading Air Navigation Service Providers\n(ANSPs), because we believed space-based aviation safety was a generational\nopportunity,\" said Matt Desch, CEO, Iridium. \"The aviation industry is now\nentering an era of growing air traffic, denser airspace, autonomous aircraft,\nand greater expectations for safety and resiliency. Bringing Aireon fully\ninside Iridium better positions us to build what's needed to support the\nfuture of aviation, including more innovations like the future introduction of\nspace-based VHF communications.\"\n\nA Combined Platform for Aviation Safety\nThe acquisition unites Aireon's surveillance and data services, including GPS\njamming and spoofing detection, with Iridium's global satcom network and PNT\nservices that help keep GPS-dependent systems working in contested\nenvironments. This combination creates one company providing four critical\naviation industry capabilities: knowing where every aircraft is, communicating\nwith the pilots flying them, providing the navigation and timing integrity\nthose aircraft rely on, and translating that information into operational\ninsights that make airspace safer and more efficient. No other satellite\noperator delivers this combination of capabilities on a global scale.\n\nToday, the Aireon system, which is certified by the European Union Aviation\nSafety Agency\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4688590-1&h=3830436053&u=https%3A%2F%2Faireon.com%2Faireons-journey-to-becoming-the-worlds-first-easa-certified-ads-b-data-provider%2F&a=European+Union+Aviation+Safety+Agency)\n(EASA), flies as a payload on the Iridium satellite constellation\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4688590-1&h=3631156156&u=https%3A%2F%2Fwww.iridium.com%2Fnetwork&a=Iridium+satellite+constellation)\nand tracks an average of 190,000 flights per day. Commercial aircraft\nbroadcast information such as an aircraft's identity, location, altitude,\nspeed, and heading. Aireon's space-based ADS-B payload captures this\ninformation in real time, with 100% global coverage. ANSPs covering more than\n50% of the global airspace rely on Aireon data to create safer and more\nefficient airspace.\n\nThe world's leading ANSPs and investors in Aireon, including NAV CANADA\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4688590-1&h=1107694249&u=https%3A%2F%2Fwww.navcanada.ca%2F&a=NAV+CANADA)\nand NATS\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4688590-1&h=3894589371&u=https%3A%2F%2Fwww.nats.aero%2F&a=NATS)\n(United Kingdom), AirNav Ireland\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4688590-1&h=13418842&u=https%3A%2F%2Fwww.airnav.ie%2Fhome&a=AirNav+Ireland),\nENAV\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4688590-1&h=3224845939&u=https%3A%2F%2Fwww.enav.it%2F&a=ENAV)\n(Italy), and Naviair\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4688590-1&h=4184362524&u=https%3A%2F%2Fwww.naviair.dk%2Fhome-page&a=Naviair)\n(Denmark), each played a vital role in launching the Aireon service, proving\nits reliability, and establishing it as a critical part of the global air\ntraffic control infrastructure. NAV CANADA and NATS, which together manage the\nmost heavily trafficked oceanic airspace in the world – the North Atlantic\nTracks between Europe and North America, were the first to go live with the\nservice. In connection with the acquisition, both ANSPs will sign extended\ndata services agreements through 2035 and beyond, with provisions for\ncontinued cooperative development of space-based VHF communications and other\nnew capabilities.\n\n\"Aireon and Iridium have been partners since day one, and that partnership is\nthe reason we have been able to build the world's only space-based air traffic\nsurveillance system and a fast-growing aviation data services business\nalongside it,\" said Don Thoma, CEO of Aireon. \"Becoming part of Iridium is a\nnatural next step for our team, our customers, and our roadmap, particularly\nas our data products expand into new areas like turbulence detection and\naviation data analytics. Together, we are building the foundation for the\nfuture of global aviation.\"\n\n\"NAV CANADA is proud of our foundational role in establishing Aireon's\nworld-first technology,\" said Mark Cooper, President and CEO, NAV CANADA.\n\"This sale sharpens our focus on our core expertise: keeping Canada's skies\nsafe. As a fellow founding partner, Iridium is the ideal owner to guide\nAireon's continued commercial growth. We wish the entire team continued\nsuccess and look forward to our ongoing relationship as a customer.\"\n\n\"We have been proud to be a part of Aireon's successes, most notably making\nreal-time aircraft surveillance over the Atlantic a reality for the first time\nin history, enabling even safer operations across the North Atlantic,\" said\nMartin Rolfe, CEO, NATS. \"As a shareholder for the past eight years, it is now\nthe right time for us to divest. We are confident Aireon is well positioned\nfor the future and wish the team every success in the next stage of its\ndevelopment.\"\n\nThe Next Transition: Space-Based VHF\nSpace-based VHF communications represent a major opportunity in air traffic\nmanagement, extending pilot-to-controller VHF services into oceanic and remote\nairspace where ground infrastructure cannot reach, without the need for\nadditional aircraft equipment. The model is similar to how aircraft already\ncarry ADS-B transceivers, which enables Aireon to deliver space-based ADS-B\nsurveillance without requiring fleet retrofits.\n\nAireon's Growing Data Services Business\nBeyond surveillance for ANSPs, Aireon operates a fast-expanding aviation data\nservices business that sells real-time and historical aviation data to\nairlines, airports, OEMs, governments, and aerospace operators. Product lines\nalready available or launching this year include turbulence detection, GPS\njamming and spoofing detection, and safety and efficiency analytics.\nAdditional applications are also in development to support the rapidly\nevolving airspace environment.\n\nAireon's data business is one of its highest-growth areas today and is\nexpected to be a meaningful contributor to the combined company's aviation\ngrowth.\n\nTerms of the Transaction and Financial Insights\nIridium is an existing owner of Aireon and will acquire the remaining 61% of\nequity interests of Aireon in the transaction for a purchase price of\napproximately $366.7 million from the other owners, NAV CANADA, AirNav\nIreland, ENAV, NATS and Naviair. The purchase price will be paid 50% at\nclosing and 50% on the one-year anniversary. Iridium will also assume\nAireon's outstanding debt, expected to be approximately $155 million at\nclosing.\n\nThe acquisition of Aireon is accretive to Iridium's growth outlook; over the\npast three years, Aireon's total revenue has grown at a compound annual growth\nrate (CAGR) of 10%. Iridium expects the acquisition will result in at least an\nadditional consolidated $100 million of service revenue and $30 million of\nOEBITDA on an annualized basis.\n\nIridium expects to pay the purchase price with current liquidity, including\nborrowings under its revolving credit facility, and future cash from\noperations. After closing the transaction, Iridium expects net leverage to\nincrease to approximately 4.0 times OEBITDA during Q3 2026, with net leverage\nplanned to return to the current levels over the subsequent twelve months.\nIridium's long-term net leverage guide of 2.0 times OEBITDA by the end of the\ndecade remains unchanged and assumes no change in its paused share buyback\nprogram.\n\nAireon will continue business-as-usual operations in the near term, with no\nplanned changes to business strategy. The transaction is targeted to close in\nearly July.\n\nEvercore served as financial advisor and Cooley and Milbank served as legal\ncounsel to Iridium. PJT Partners served as financial advisor and Hogan Lovells\nserved as legal counsel to Aireon.\n\nNote for Media:\nA briefing for reporters will be held today, at 9 a.m. EDT. Reporters\ninterested in attending should email the designated contacts for this release\nto receive an access link.\n\nFor more information about Iridium, visit: www.iridium.com\n\nFor more information about Aireon, visit: www.aireon.com\n\nNon-GAAP Financial Measures & Definitions\n\nIn addition to disclosing financial results that are determined in accordance\nwith U.S. GAAP, Iridium reports OEBITDA, which is a non-GAAP financial\nmeasure, as a supplemental measure to help investors evaluate Iridium's\nfundamental operational performance. OEBITDA represents earnings before\ninterest, income taxes, depreciation and amortization, gain (loss) on equity\nmethod investments, transaction related expenses, and share-based compensation\nexpenses. Iridium considers the loss on early extinguishment of debt to be\nfinancing-related costs associated with interest expense or amortization of\nfinancing fees, which by definition are excluded from OEBITDA. Management\nbelieves such charges are incidental to, but not reflective of, Iridium's\nday-to-day operating performance. OEBITDA does not represent, and should not\nbe considered, an alternative to U.S. GAAP measurements such as net income or\nloss. In addition, there is no standardized measurement of OEBITDA, and\nIridium's calculations thereof may not be comparable to similarly titled\nmeasures reported by other companies. Iridium believes OEBITDA is a useful\nmeasure across time in evaluating its fundamental core operating performance.\nManagement also uses OEBITDA to manage the business, including in preparing\nits annual operating budget, debt covenant compliance, financial projections\nand compensation plans. Iridium believes that OEBITDA is also useful to\ninvestors because similar measures are frequently used by securities analysts,\ninvestors and other interested parties in their evaluation of companies in\nsimilar industries. As indicated, OEBITDA does not include interest expense on\nborrowed money, the payment of income taxes, amortization of Iridium's\ndefinite-lived intangible assets, or depreciation expense on Iridium's capital\nassets, which are necessary elements of Iridium's operations. Since OEBITDA\ndoes not account for these and other expenses, its utility as a measure of\nIridium's operating performance has material limitations. Due to these\nlimitations, Iridium's management does not view OEBITDA in isolation, but also\nuses other measurements, such as net income, revenues and operating profit, to\nmeasure operating performance. Iridium does not provide a forward-looking\nreconciliation of Aireon's expected contribution to OEBITDA as the amount and\nsignificance of certain items such as share-based compensation,\ntransaction-related expenses and gain/loss on equity method investments, that\nare required to develop meaningful comparable GAAP financial measures cannot\nbe estimated at this time without unreasonable efforts.\n\nAbout Iridium Communications Inc.\n\nIridium Communications Inc. (Nasdaq: IRDM) operates the world's only truly\nglobal mobile satellite network, delivering reliable voice, data, and\npositioning, navigation, and timing (PNT) services anywhere on Earth. Iridium\nsupports safety- and mission-critical operations for diverse markets such as\naviation, maritime, government, emergency services, critical infrastructure,\nautonomous systems, and remote monitoring applications, where connectivity is\nessential.\n\nHeadquartered in McLean, Virginia, Iridium provides its products and services\nthrough an ecosystem of 500-plus partner companies around the world. For more\ninformation, visit www.iridium.com.\n\nAbout Aireon LLC\n\nAireon has deployed a space-based air traffic surveillance system for\nAutomatic Dependent Surveillance-Broadcast (ADS-B) equipped aircraft\nthroughout the entire globe. Aireon is harnessing next-generation aviation\nsurveillance technologies that were formerly ground-based and, for the first\ntime ever, is extending their reach globally to significantly improve\nefficiency, enhance safety, reduce emissions, and provide cost savings\nbenefits to all stakeholders. Space-based ADS-B surveillance covers oceanic,\npolar, and remote regions, and augments existing ground-based systems that are\nlimited to terrestrial airspace. In partnership with leading ANSPs from around\nthe world, like NAV CANADA, AirNav Ireland, ENAV, NATS and Naviair, as well as\nIridium Communications, Aireon is providing a global, real-time, space-based\nair traffic surveillance system, available to all aviation stakeholders. For\nmore information, please visit www.aireon.com.\n\nForward-Looking Statements Disclosure\n\nStatements in this press release that are not purely historical facts may\nconstitute forward-looking statements within the meaning of the Private\nSecurities Litigation Reform Act of 1995. Iridium has based these statements\non its current expectations and the information currently available to it.\nForward-looking statements include statements regarding, among other things,\nthe closing and financing of the acquisition of Aireon, including the timing\nthereof; the future capabilities of, benefits of, availability of, and market\ndemand for the Aireon system and Aireon's services; the benefits of Aireon's\nacquisition to Iridium, including its expected contribution to Iridium's\nrevenue and OEBITDA, its ability to foster innovation at Iridium, and its\nfuture growth; and future indebtedness and net leverage. Forward-looking\nstatements can be identified by words such as \"anticipates,\" \"may,\" \"can,\"\n\"believes,\" \"expects,\" \"plans,\" \"projects,\" \"targets,\" \"positions,\" \"will,\"\n\"to be,\" \"future,\" \"forward,\" \"roadmap,\" \"wish,\"  and similar expressions\nthat predict or indicate future events, trends or prospects.\n\nThese forward-looking statements involve known and unknown risks,\nuncertainties and other factors that may cause actual results, performance or\nachievements of Iridium to differ materially from those expressed or implied\nby the forward-looking statements. Such risks and uncertainties include, but\nare not limited to, uncertainties regarding the timing and completion of the\nacquisition; the development, availability and market acceptance of Aireon\nsystem and services; and general industry and economic conditions, as well as\ncompetitive, legal, governmental and technological factors. Additional factors\nthat could cause actual results to differ materially are described under the\ncaption \"Risk Factors\" in Iridium's Form 10-K for the year ended December 31,\n2025, filed with the Securities and Exchange Commission (\"SEC\") on February\n12, 2026, as well as in other filings Iridium makes with the SEC from time to\ntime.\n\nThere is no assurance that Iridium's expectations will be realized. If one or\nmore of these risks or uncertainties materialize, or if underlying assumptions\nprove incorrect, actual results may vary materially from those expected,\nestimated or projected. Forward-looking statements speak only as of the date\nof this press release, and Iridium undertakes no obligation to update or\nrevise any forward-looking statements, whether as a result of new information,\nfuture events or otherwise, except as required by law.\n\n Press Contact:               Investor Contact:            \n Jordan Hassin                Kenneth Levy                 \n Iridium Communications Inc.  Iridium Communications Inc.  \n Jordan.Hassin@Iridium.com    Ken.Levy@Iridium.com         \n +1 (703) 287-7421            +1 (703) 287-7570            \n\n \n\nPhoto - https://mma.prnewswire.com/media/2979846/Iridium_Aireon.jpg\nLogo - https://mma.prnewswire.com/media/1394616/IRIDIUM_Logo.jpg\n\nView original\ncontent:https://www.prnewswire.co.uk/news-releases/iridium-to-acquire-aireon-advancing-its-strategy-to-lead-the-future-of-aviation-safety-302771709.html\n\n\n\nPhoto: \nhttps://mma.prnewswire.com/media/2979846/Iridium_Aireon.jpg\nhttps://mma.prnewswire.com/media/1394616/IRIDIUM_Logo.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPretBDBGa","title":"Iridium to Acquire Aireon, Advancing its Strategy to Lead the Future of Aviation Safety","author":"PR Newswire","ticker":"IRDM","created":"2026-05-14T11:01:00.311Z","tickers":["IRDM"],"exchange":"NASDAQ","article_body":"Iridium to Acquire Aireon, Advancing its Strategy to Lead the Future of\nAviation Safety\nPR Newswire\n\nMCLEAN, Va., May 14, 2026\n\nThe transaction unifies the world's only space-based air traffic surveillance\nsystem with the satellite network it was built on and extends commercial\npartnerships with NAV CANADA and NATS through 2035 and beyond.\n\nMCLEAN, Va., May 14, 2026 /PRNewswire/ -- Iridium Communications Inc.\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4688590-1&h=433945102&u=https%3A%2F%2Fwww.iridium.com%2F&a=Iridium+Communications+Inc.)\n(Nasdaq: IRDM), a leading provider of global voice, data, and positioning,\nnavigation, and timing (PNT) satellite services, today announced that it has\nentered into a definitive agreement to acquire Aireon LLC\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4688590-1&h=4027364556&u=https%3A%2F%2Fwww.aireon.com%2F&a=Aireon+LLC),\noperator of the world's only space-based Automatic Dependent\nSurveillance-Broadcast (ADS-B) air traffic surveillance system. The\nacquisition of Aireon is a defining step in Iridium's strategy to provide the\nfoundational architecture for global aviation safety, bringing space-based\nsurveillance, safety communications, PNT, and operational data together on a\nsingle network.\n\n\"Aireon has always been part of Iridium's aviation safety strategy. We founded\nit in partnership with the world's leading Air Navigation Service Providers\n(ANSPs), because we believed space-based aviation safety was a generational\nopportunity,\" said Matt Desch, CEO, Iridium. \"The aviation industry is now\nentering an era of growing air traffic, denser airspace, autonomous aircraft,\nand greater expectations for safety and resiliency. Bringing Aireon fully\ninside Iridium better positions us to build what's needed to support the\nfuture of aviation, including more innovations like the future introduction of\nspace-based VHF communications.\"\n\nA Combined Platform for Aviation Safety\nThe acquisition unites Aireon's surveillance and data services, including GPS\njamming and spoofing detection, with Iridium's global satcom network and PNT\nservices that help keep GPS-dependent systems working in contested\nenvironments. This combination creates one company providing four critical\naviation industry capabilities: knowing where every aircraft is, communicating\nwith the pilots flying them, providing the navigation and timing integrity\nthose aircraft rely on, and translating that information into operational\ninsights that make airspace safer and more efficient. No other satellite\noperator delivers this combination of capabilities on a global scale.\n\nToday, the Aireon system, which is certified by the European Union Aviation\nSafety Agency\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4688590-1&h=3830436053&u=https%3A%2F%2Faireon.com%2Faireons-journey-to-becoming-the-worlds-first-easa-certified-ads-b-data-provider%2F&a=European+Union+Aviation+Safety+Agency)\n(EASA), flies as a payload on the Iridium satellite constellation\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4688590-1&h=3631156156&u=https%3A%2F%2Fwww.iridium.com%2Fnetwork&a=Iridium+satellite+constellation)\nand tracks an average of 190,000 flights per day. Commercial aircraft\nbroadcast information such as an aircraft's identity, location, altitude,\nspeed, and heading. Aireon's space-based ADS-B payload captures this\ninformation in real time, with 100% global coverage. ANSPs covering more than\n50% of the global airspace rely on Aireon data to create safer and more\nefficient airspace.\n\nThe world's leading ANSPs and investors in Aireon, including NAV CANADA\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4688590-1&h=1107694249&u=https%3A%2F%2Fwww.navcanada.ca%2F&a=NAV+CANADA)\nand NATS\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4688590-1&h=3894589371&u=https%3A%2F%2Fwww.nats.aero%2F&a=NATS)\n(United Kingdom), AirNav Ireland\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4688590-1&h=13418842&u=https%3A%2F%2Fwww.airnav.ie%2Fhome&a=AirNav+Ireland),\nENAV\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4688590-1&h=3224845939&u=https%3A%2F%2Fwww.enav.it%2F&a=ENAV)\n(Italy), and Naviair\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4688590-1&h=4184362524&u=https%3A%2F%2Fwww.naviair.dk%2Fhome-page&a=Naviair)\n(Denmark), each played a vital role in launching the Aireon service, proving\nits reliability, and establishing it as a critical part of the global air\ntraffic control infrastructure. NAV CANADA and NATS, which together manage the\nmost heavily trafficked oceanic airspace in the world – the North Atlantic\nTracks between Europe and North America, were the first to go live with the\nservice. In connection with the acquisition, both ANSPs will sign extended\ndata services agreements through 2035 and beyond, with provisions for\ncontinued cooperative development of space-based VHF communications and other\nnew capabilities.\n\n\"Aireon and Iridium have been partners since day one, and that partnership is\nthe reason we have been able to build the world's only space-based air traffic\nsurveillance system and a fast-growing aviation data services business\nalongside it,\" said Don Thoma, CEO of Aireon. \"Becoming part of Iridium is a\nnatural next step for our team, our customers, and our roadmap, particularly\nas our data products expand into new areas like turbulence detection and\naviation data analytics. Together, we are building the foundation for the\nfuture of global aviation.\"\n\n\"NAV CANADA is proud of our foundational role in establishing Aireon's\nworld-first technology,\" said Mark Cooper, President and CEO, NAV CANADA.\n\"This sale sharpens our focus on our core expertise: keeping Canada's skies\nsafe. As a fellow founding partner, Iridium is the ideal owner to guide\nAireon's continued commercial growth. We wish the entire team continued\nsuccess and look forward to our ongoing relationship as a customer.\"\n\n\"We have been proud to be a part of Aireon's successes, most notably making\nreal-time aircraft surveillance over the Atlantic a reality for the first time\nin history, enabling even safer operations across the North Atlantic,\" said\nMartin Rolfe, CEO, NATS. \"As a shareholder for the past eight years, it is now\nthe right time for us to divest. We are confident Aireon is well positioned\nfor the future and wish the team every success in the next stage of its\ndevelopment.\"\n\nThe Next Transition: Space-Based VHF\nSpace-based VHF communications represent a major opportunity in air traffic\nmanagement, extending pilot-to-controller VHF services into oceanic and remote\nairspace where ground infrastructure cannot reach, without the need for\nadditional aircraft equipment. The model is similar to how aircraft already\ncarry ADS-B transceivers, which enables Aireon to deliver space-based ADS-B\nsurveillance without requiring fleet retrofits.\n\nAireon's Growing Data Services Business\nBeyond surveillance for ANSPs, Aireon operates a fast-expanding aviation data\nservices business that sells real-time and historical aviation data to\nairlines, airports, OEMs, governments, and aerospace operators. Product lines\nalready available or launching this year include turbulence detection, GPS\njamming and spoofing detection, and safety and efficiency analytics.\nAdditional applications are also in development to support the rapidly\nevolving airspace environment.\n\nAireon's data business is one of its highest-growth areas today and is\nexpected to be a meaningful contributor to the combined company's aviation\ngrowth.\n\nTerms of the Transaction and Financial Insights\nIridium is an existing owner of Aireon and will acquire the remaining 61% of\nequity interests of Aireon in the transaction for a purchase price of\napproximately $366.7 million from the other owners, NAV CANADA, AirNav\nIreland, ENAV, NATS and Naviair. The purchase price will be paid 50% at\nclosing and 50% on the one-year anniversary. Iridium will also assume\nAireon's outstanding debt, expected to be approximately $155 million at\nclosing.\n\nThe acquisition of Aireon is accretive to Iridium's growth outlook; over the\npast three years, Aireon's total revenue has grown at a compound annual growth\nrate (CAGR) of 10%. Iridium expects the acquisition will result in at least an\nadditional consolidated $100 million of service revenue and $30 million of\nOEBITDA on an annualized basis.\n\nIridium expects to pay the purchase price with current liquidity, including\nborrowings under its revolving credit facility, and future cash from\noperations. After closing the transaction, Iridium expects net leverage to\nincrease to approximately 4.0 times OEBITDA during Q3 2026, with net leverage\nplanned to return to the current levels over the subsequent twelve months.\nIridium's long-term net leverage guide of 2.0 times OEBITDA by the end of the\ndecade remains unchanged and assumes no change in its paused share buyback\nprogram.\n\nAireon will continue business-as-usual operations in the near term, with no\nplanned changes to business strategy. The transaction is targeted to close in\nearly July.\n\nEvercore served as financial advisor and Cooley and Milbank served as legal\ncounsel to Iridium. PJT Partners served as financial advisor and Hogan Lovells\nserved as legal counsel to Aireon.\n\nNote for Media:\nA briefing for reporters will be held today, at 9 a.m. EDT. Reporters\ninterested in attending should email the designated contacts for this release\nto receive an access link.\n\nFor more information about Iridium, visit: www.iridium.com\n\nFor more information about Aireon, visit: www.aireon.com\n\nNon-GAAP Financial Measures & Definitions\n\nIn addition to disclosing financial results that are determined in accordance\nwith U.S. GAAP, Iridium reports OEBITDA, which is a non-GAAP financial\nmeasure, as a supplemental measure to help investors evaluate Iridium's\nfundamental operational performance. OEBITDA represents earnings before\ninterest, income taxes, depreciation and amortization, gain (loss) on equity\nmethod investments, transaction related expenses, and share-based compensation\nexpenses. Iridium considers the loss on early extinguishment of debt to be\nfinancing-related costs associated with interest expense or amortization of\nfinancing fees, which by definition are excluded from OEBITDA. Management\nbelieves such charges are incidental to, but not reflective of, Iridium's\nday-to-day operating performance. OEBITDA does not represent, and should not\nbe considered, an alternative to U.S. GAAP measurements such as net income or\nloss. In addition, there is no standardized measurement of OEBITDA, and\nIridium's calculations thereof may not be comparable to similarly titled\nmeasures reported by other companies. Iridium believes OEBITDA is a useful\nmeasure across time in evaluating its fundamental core operating performance.\nManagement also uses OEBITDA to manage the business, including in preparing\nits annual operating budget, debt covenant compliance, financial projections\nand compensation plans. Iridium believes that OEBITDA is also useful to\ninvestors because similar measures are frequently used by securities analysts,\ninvestors and other interested parties in their evaluation of companies in\nsimilar industries. As indicated, OEBITDA does not include interest expense on\nborrowed money, the payment of income taxes, amortization of Iridium's\ndefinite-lived intangible assets, or depreciation expense on Iridium's capital\nassets, which are necessary elements of Iridium's operations. Since OEBITDA\ndoes not account for these and other expenses, its utility as a measure of\nIridium's operating performance has material limitations. Due to these\nlimitations, Iridium's management does not view OEBITDA in isolation, but also\nuses other measurements, such as net income, revenues and operating profit, to\nmeasure operating performance. Iridium does not provide a forward-looking\nreconciliation of Aireon's expected contribution to OEBITDA as the amount and\nsignificance of certain items such as share-based compensation,\ntransaction-related expenses and gain/loss on equity method investments, that\nare required to develop meaningful comparable GAAP financial measures cannot\nbe estimated at this time without unreasonable efforts.\n\nAbout Iridium Communications Inc.\n\nIridium Communications Inc. (Nasdaq: IRDM) operates the world's only truly\nglobal mobile satellite network, delivering reliable voice, data, and\npositioning, navigation, and timing (PNT) services anywhere on Earth. Iridium\nsupports safety- and mission-critical operations for diverse markets such as\naviation, maritime, government, emergency services, critical infrastructure,\nautonomous systems, and remote monitoring applications, where connectivity is\nessential.\n\nHeadquartered in McLean, Virginia, Iridium provides its products and services\nthrough an ecosystem of 500-plus partner companies around the world. For more\ninformation, visit www.iridium.com.\n\nAbout Aireon LLC\n\nAireon has deployed a space-based air traffic surveillance system for\nAutomatic Dependent Surveillance-Broadcast (ADS-B) equipped aircraft\nthroughout the entire globe. Aireon is harnessing next-generation aviation\nsurveillance technologies that were formerly ground-based and, for the first\ntime ever, is extending their reach globally to significantly improve\nefficiency, enhance safety, reduce emissions, and provide cost savings\nbenefits to all stakeholders. Space-based ADS-B surveillance covers oceanic,\npolar, and remote regions, and augments existing ground-based systems that are\nlimited to terrestrial airspace. In partnership with leading ANSPs from around\nthe world, like NAV CANADA, AirNav Ireland, ENAV, NATS and Naviair, as well as\nIridium Communications, Aireon is providing a global, real-time, space-based\nair traffic surveillance system, available to all aviation stakeholders. For\nmore information, please visit www.aireon.com.\n\nForward-Looking Statements Disclosure\n\nStatements in this press release that are not purely historical facts may\nconstitute forward-looking statements within the meaning of the Private\nSecurities Litigation Reform Act of 1995. Iridium has based these statements\non its current expectations and the information currently available to it.\nForward-looking statements include statements regarding, among other things,\nthe closing and financing of the acquisition of Aireon, including the timing\nthereof; the future capabilities of, benefits of, availability of, and market\ndemand for the Aireon system and Aireon's services; the benefits of Aireon's\nacquisition to Iridium, including its expected contribution to Iridium's\nrevenue and OEBITDA, its ability to foster innovation at Iridium, and its\nfuture growth; and future indebtedness and net leverage. Forward-looking\nstatements can be identified by words such as \"anticipates,\" \"may,\" \"can,\"\n\"believes,\" \"expects,\" \"plans,\" \"projects,\" \"targets,\" \"positions,\" \"will,\"\n\"to be,\" \"future,\" \"forward,\" \"roadmap,\" \"wish,\"  and similar expressions\nthat predict or indicate future events, trends or prospects.\n\nThese forward-looking statements involve known and unknown risks,\nuncertainties and other factors that may cause actual results, performance or\nachievements of Iridium to differ materially from those expressed or implied\nby the forward-looking statements. Such risks and uncertainties include, but\nare not limited to, uncertainties regarding the timing and completion of the\nacquisition; the development, availability and market acceptance of Aireon\nsystem and services; and general industry and economic conditions, as well as\ncompetitive, legal, governmental and technological factors. Additional factors\nthat could cause actual results to differ materially are described under the\ncaption \"Risk Factors\" in Iridium's Form 10-K for the year ended December 31,\n2025, filed with the Securities and Exchange Commission (\"SEC\") on February\n12, 2026, as well as in other filings Iridium makes with the SEC from time to\ntime.\n\nThere is no assurance that Iridium's expectations will be realized. If one or\nmore of these risks or uncertainties materialize, or if underlying assumptions\nprove incorrect, actual results may vary materially from those expected,\nestimated or projected. Forward-looking statements speak only as of the date\nof this press release, and Iridium undertakes no obligation to update or\nrevise any forward-looking statements, whether as a result of new information,\nfuture events or otherwise, except as required by law.\n\n Press Contact:               Investor Contact:            \n Jordan Hassin                Kenneth Levy                 \n Iridium Communications Inc.  Iridium Communications Inc.  \n Jordan.Hassin@Iridium.com    Ken.Levy@Iridium.com         \n +1 (703) 287-7421            +1 (703) 287-7570            \n\n \n\nPhoto - https://mma.prnewswire.com/media/2979846/Iridium_Aireon.jpg\nLogo - https://mma.prnewswire.com/media/1394616/IRIDIUM_Logo.jpg\n\nView original\ncontent:https://www.prnewswire.co.uk/news-releases/iridium-to-acquire-aireon-advancing-its-strategy-to-lead-the-future-of-aviation-safety-302771709.html\n\n\n\nPhoto: \nhttps://mma.prnewswire.com/media/2979846/Iridium_Aireon.jpg\nhttps://mma.prnewswire.com/media/1394616/IRIDIUM_Logo.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-05-14T11:01:00.38011903Z","server_sent_at_ms":1778756460380},"received_at":"2026-05-14T11:01:00.481Z","source_url":null},"analysis":{"id":"24678","press_release_id":"34718","analysis_json":{"industry":{"label":"Communications Equipment","sector":"Communication Services"},"redFlags":[],"eventType":"m_and_a","narrative":"Iridium Communications Inc. has entered into a definitive agreement to acquire Aireon LLC, the operator of the world's only space-based Automatic Dependent Surveillance-Broadcast (ADS-B) air traffic surveillance system.\n\nThe acquisition unifies Aireon's surveillance and data services with Iridium's global satellite network, creating a single platform for aviation safety and operational data.\n\nIridium will pay approximately $366.7 million for the remaining 61% of Aireon, with 50% paid at closing and the rest on the one-year anniversary. Iridium will also assume Aireon's outstanding debt, expected to be around $155 million.\n\nThe deal is expected to be accretive, adding at least $100 million in service revenue and $30 million in OEBITDA annually. NAV CANADA and NATS will extend their data services agreements through 2035 and beyond.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Iridium acquires Aireon, a key player in space-based air traffic surveillance, for $366.7M, positioning itself as a leader in aviation safety and data services."},"keyFigures":{"dealValueUsd":366700000,"customDimensions":{"aireon_cagr":"10%","acquisition_contribution_oebitda":30000000,"acquisition_contribution_revenue":100000000}},"quotedText":"Aireon has always been part of Iridium's aviation safety strategy. We founded it in partnership with the world's leading Air Navigation Service Providers (ANSPs), because we believed space-based aviation safety was a generational opportunity.","namedEntities":{"people":[{"name":"Matt Desch","role":"CEO"},{"name":"Don Thoma","role":"CEO of Aireon"},{"name":"Mark Cooper","role":"President and CEO, NAV CANADA"},{"name":"Martin Rolfe","role":"CEO, NATS"}],"products":["Automatic Dependent Surveillance-Broadcast (ADS-B)","space-based VHF communications"],"companies":[{"name":"Iridium Communications Inc.","ticker":"IRDM","relationship":"acquirer"},{"name":"Aireon LLC","relationship":"target"},{"name":"NAV CANADA","relationship":"partner"},{"name":"NATS","relationship":"partner"},{"name":"AirNav Ireland","relationship":"partner"},{"name":"ENAV","relationship":"partner"},{"name":"Naviair","relationship":"partner"},{"name":"Evercore","relationship":"financial advisor"},{"name":"Cooley","relationship":"legal counsel"},{"name":"Milbank","relationship":"legal counsel"},{"name":"PJT Partners","relationship":"financial advisor"},{"name":"Hogan Lovells","relationship":"legal counsel"}],"dollarAmounts":[{"amount":"$366.7 million","context":"purchase price for Aireon"},{"amount":"$155 million","context":"Aireon's outstanding debt at closing"},{"amount":"$100 million","context":"expected additional service revenue from Aireon"},{"amount":"$30 million","context":"expected additional OEBITDA from Aireon"}]},"materialImpact":{"score":5,"reasoning":"Iridium is acquiring Aireon, a key player in space-based air traffic surveillance, for $366.7 million. This acquisition is expected to be accretive, adding $100 million in service revenue and $30 million in OEBITDA annually, and positions Iridium as a leader in aviation safety and data services."},"tickerRelevance":{"others":[{"ticker":"Aireon LLC","relevance":"target"},{"ticker":"NAV CANADA","relevance":"partner"},{"ticker":"NATS","relevance":"partner"},{"ticker":"AirNav Ireland","relevance":"partner"},{"ticker":"ENAV","relevance":"partner"},{"ticker":"Naviair","relevance":"partner"}],"primary":"IRDM"},"globalImportance":65,"audienceRelevance":70,"eventTypeSecondary":["partnership"],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"M&A","sectorWeight":"Communication Services","householdBrandBoost":"moderate","marketCapAdjustment":"positive","retailFavoriteBoost":"low"}},"event_type":"m_and_a","event_type_secondary":["partnership"],"sentiment":"bullish","material_impact_score":5,"narrative":"Iridium Communications Inc. has entered into a definitive agreement to acquire Aireon LLC, the operator of the world's only space-based Automatic Dependent Surveillance-Broadcast (ADS-B) air traffic surveillance system.\n\nThe acquisition unifies Aireon's surveillance and data services with Iridium's global satellite network, creating a single platform for aviation safety and operational data.\n\nIridium will pay approximately $366.7 million for the remaining 61% of Aireon, with 50% paid at closing and the rest on the one-year anniversary. Iridium will also assume Aireon's outstanding debt, expected to be around $155 million.\n\nThe deal is expected to be accretive, adding at least $100 million in service revenue and $30 million in OEBITDA annually. NAV CANADA and NATS will extend their data services agreements through 2035 and beyond.","key_figures":{"dealValueUsd":366700000,"customDimensions":{"aireon_cagr":"10%","acquisition_contribution_oebitda":30000000,"acquisition_contribution_revenue":100000000}},"named_entities":{"people":[{"name":"Matt Desch","role":"CEO"},{"name":"Don Thoma","role":"CEO of Aireon"},{"name":"Mark Cooper","role":"President and CEO, NAV CANADA"},{"name":"Martin Rolfe","role":"CEO, NATS"}],"products":["Automatic Dependent Surveillance-Broadcast (ADS-B)","space-based VHF communications"],"companies":[{"name":"Iridium Communications Inc.","ticker":"IRDM","relationship":"acquirer"},{"name":"Aireon LLC","relationship":"target"},{"name":"NAV CANADA","relationship":"partner"},{"name":"NATS","relationship":"partner"},{"name":"AirNav Ireland","relationship":"partner"},{"name":"ENAV","relationship":"partner"},{"name":"Naviair","relationship":"partner"},{"name":"Evercore","relationship":"financial advisor"},{"name":"Cooley","relationship":"legal counsel"},{"name":"Milbank","relationship":"legal counsel"},{"name":"PJT Partners","relationship":"financial advisor"},{"name":"Hogan Lovells","relationship":"legal counsel"}],"dollarAmounts":[{"amount":"$366.7 million","context":"purchase price for Aireon"},{"amount":"$155 million","context":"Aireon's outstanding debt at closing"},{"amount":"$100 million","context":"expected additional service revenue from Aireon"},{"amount":"$30 million","context":"expected additional OEBITDA from Aireon"}]},"model_name":"Qwen/Qwen2.5-72B-Instruct-AWQ","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-05-14T13:17:40.098Z","global_importance":65,"audience_relevance":70,"importance_components":{"tickerTier":"mid-cap","eventGravity":"M&A","sectorWeight":"Communication Services","householdBrandBoost":"moderate","marketCapAdjustment":"positive","retailFavoriteBoost":"low"}},"durationMs":152157,"modelName":"george-droid-qwen-72b"}}