<div id="readability-page-1"><div id="ctl00_CPI_dvBody"><div><div><p>Add <img src="https://imageproxy.pbkrs.com/https://cdn.rttnews.com/images/v4/RTTNews-Logo-224x61.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://cdn.rttnews.com/images/v4/RTTNews-Logo-224x61.png"/> as your preferred news source on Google</p><div><p><img src="https://imageproxy.pbkrs.com/https://cdn.rttnews.com/images/v4/google.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://cdn.rttnews.com/images/v4/google.png"/> Add Now</p></div></div></div><p> Iridium Communications Inc. (IRDM), a satellite communications company, on Thursday announced that it has agreed to acquire the remaining 61% of Aireon LLC, a provider of Aviation <span>technology</span> solutions for about $366.7 million, bringing the world's only space-based air traffic surveillance system fully under the satellite operator. </p><p>Iridium, an existing Aireon owner, will buy the equity interests held by NAV CANADA, AirNav Ireland, ENAV, NATS and Naviair. </p><p>The company said that half of the purchase price will be paid at closing and other half on the one-year anniversary. </p><p>The acquisition unifies Aireon's space-based ADS-B surveillance and data services with Iridium's satellite constellation and PNT services.</p><p>Air Navigation Service Providers covering more than 50% of the global airspace use Aireon data.</p><p>NAV CANADA and NATS, which manage North Atlantic airspace and were first to use the service, will sign extended data services agreements through 2035 and beyond, with provisions for space-based VHF communications and other capabilities.</p><p>The transaction is targeted to close in early July.</p><p>Evercore served as financial advisor, and Cooley and Milbank served as legal counsel to Iridium. PJT Partners served as financial advisor and Hogan LovelIls served as legal counsel to Aireon.</p><p>In pre-market activity on the Nasdaq, shares of Iridium were up 0.56 percent, changing hands at $43.33, after closing Wednesday's regular session 3.43 percent lower. </p><p>For comments and feedback contact: editorial@rttnews.com</p><p>Business News</p></div></div>

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<p>Iridium Communications Inc. (IRDM) has announced its agreement to acquire the remaining 61% of Aireon LLC for approximately $366.7 million. This acquisition will fully integrate Aireon's space-based air traffic surveillance system with Iridium's satellite services. The payment will be split, with half at closing and the remainder after one year. The deal is expected to close in early July, with NAV CANADA and NATS extending their data service agreements through 2035. Iridium's shares rose 0.56% in pre-market trading following the announcement.</p>

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Iridium To Buy Aireon For $366.7 Mln