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Iridium ramped up its PNT activities after acquiring Satelles last year and integrating its alternative PNT solution into its offerings.
Iridium acquired Satelles last year to integrate its PNT service into its own offerings.
Iridium acquired Satelles, Inc. in April 2024.
Iridium expects the Satelles acquisition to generate over $100,000,000 in annual service revenue by 2030 and anticipates additional revenue from equipment and engineering.
Iridium expects the acquisition of Satelles to be completed by 2024-04-01.
Iridium will pay $115,000,000 to acquire the remaining 80% of Satelles, having previously owned 20% through prior investments.
Iridium will pay about $115 million, net of cash remaining in Satelles, to acquire the remaining approximately 80 percent ownership, financed through a tack-on to its term loan.
Reston, Virginia-based Satelles has been broadcasting timing and location signals since 2016 through a channel Iridium’s satellites in low Earth orbit previously used for paging.
Iridium estimates Satelles service revenue will climb to more than $100,000,000 per year by 2030, in addition to sales from equipment and engineering.
On 2024-03-04, Iridium Communications plans to buy out Satelles, which provides a backup for GPS via Iridium’s L-band network.
Iridium is spending about $115,000,000 to buy the 80% of Satelles it does not already own, with the deal expected to complete 2024-04-01.
Standardized chips that Iridium plans to enable from 2026 for smartphones to send texts and SOS alerts via its satellites could potentially use Satelles signals for timing synchronization and in-building location services.
Satelles began offering a space-based PNT service in 2016 that broadcasts timing and location signals through a channel on Iridium NEXT communications satellites.
Spei Satelles launched from Vandenberg Air Force Base, California aboard a SpaceX Falcon 9 rocket on 2023-06-13.
Satelles has been providing assured PNT services to back up GNSS since 2016 over Iridium’s satellites in low Earth orbit.
Satelles, Inc. provides satellite-based time and location services.
Christina Riley is the Vice President of Commercial PNT at Satelles.
DielectriX antennas are designed to receive Satelles STL (Satellite Time and Location) signals delivered over the Iridium constellation and to operate with Iridium’s voice and data network.
Satelles provided the timing source for NextNav’s alternative PNT testbed using Satellite Time and Location (STL).
NextNav and Satelles Inc. partnered to create an alternative positioning, navigation and timing testbed in the San Francisco Bay area.