• Iridium Communications Inc. is trading 6.2% higher at $48.41 following the announcement of a definitive agreement to acquire Aireon LLC.
  • Aireon operates the world's only space-based air traffic surveillance system, and this deal is expected to significantly enhance Iridium's aviation safety strategy.
  • The stock is rebounding from recent sharp losses, with the acquisition news providing a strong fundamental catalyst for the rally.