Industrial Engineer

Rocket Lab has been selected by Viasat to build the spacecraft bus for the US Space Force's Protected Tactical SATCOM-Global programme under Viasat's $218.8 million prime contract awarded in May. Rocket Lab will supply its Lightning-GEO spacecraft platform to carry Viasat's dual-band anti-jamming payload. Stifel analyst Erik Rasmussen maintained a Buy rating on Rocket Lab, noting the contract represents a high eight-figure revenue opportunity and positions the company for follow-on contracts. Rocket Lab reported record second-quarter revenue of $234.1 million, up 62% year over year, with backlog surging 137% to $2.36 billion. The company posted a net loss of $49.25 million but increased cash reserves to $2.13 billion following an equity offering. Viasat generated approximately $1.2 billion in first-quarter revenue, down 1% year over year. The company narrowed its net loss to $52 million whilst free cash flow increased 19% to $72 million.

Iridium's potential buyers and who's left for Viasat? 08.26.26. On August 13, RocketLab filed the S-4 registration statement for the acquisition of Iridium, which just like Amazon and Globalstar a couple of weeks earlier, set out details of the process that led to the deal being struck. In this case RocketLab and Iridium began discussions on December 1, 2025, followed by a call between the CEOs on December 15. Further meetings continued in January and February and RocketLab began due diligence in March. After the Amazon acquisition of Globalstar was announced on April 14, the next day RocketLab delivered its first offer of $42.50 in RocketLab shares. An updated offer of $52 per share ($15 in cash and $37 in RocketLab shares) was submitted on June 3 and this was updated further to $26 per share in cash and $26 in RocketLab shares on June 22, before being finalized at $54 (again 50/50 cash and shares) the next day. The dates on which RocketLab began discussions with Iridium are consistent with my assumption that RocketLab was Globalstar's Party A that made an initial bid but pulled out of the process with Globalstar on December 4. What is remarkable about the deal is how Iridium was able to push RocketLab's offer up by over 25% despite there being relatively little competition for Iridium's assets. The registration statement identifies three parties A, B and C as potential rival bidders, but the only one of these that made a serious offer was Party A, which had initially began meeting with Iridium in November 2025 and conducted due diligence in parallel with RocketLab, before submitting an initial all cash offer of $41 to $45 per share on June 2, which it refused to raise further. After the Amazon-Globalstar announcement, Iridium's advisors at Evercore reached out to 10 other potential strategic counterparties of which 4 signed confidentiality agreements but only one (Party B) entered into formal due diligence on May 13 and terminated this two weeks later without making an offer. The only other identified party (Party C), which had not been the subject of Evercore's outreach, had their CEO reach out to Iridium's CEO on May 7, but on May 12 said it would not be submitting a proposal to acquire Iridium. Iridium and Evercore clearly knew at Satellite 2026 about rumors that the Globalstar deal was coming and appear to have cleverly extended the process so that this announcement would inevitably lead to speculation about an Iridium sale and drive up the share price. They also played off the certainty of the cash offer from Party A (without telling RocketLab how low this was) to get a much higher share of cash ("value certainty") in the RocketLab offer. So who are Party A, B and C? Party A appears to have been a private equity firm, given the lengthy and detailed due diligence and the emphasis on an all cash offer (including cash settlement of Iridium's employee equity incentives), as well as the refusal to improve the offer based on Party A's belief "that Iridium Common Stock was trading at elevated levels amid market speculation about a potential strategic transaction" (i.e. Party A was not a "strategic" bidder). Party B was indicated to "require a strategic partner with which to pursue an acquisition of Iridium" which makes it clear that Party B wasn't Amazon as some might have assumed. The most plausible "strategic counterparty" in this category is AST SpaceMobile, which would have needed backing from one or more telcos in order to make a viable bid for Iridium. And Party C is most likely Viasat, which wouldn't have been in a position to make a bid (and for this reason, as indicated in the registration statement, would probably not have been a "strategic counterparty" that Evercore engaged with), but would have wanted to understand more about what was happening with this key competitor. So what does this tell Telecom, Media and Finance Associates, Inc.? Firstly, that neither Amazon nor SpaceX were interested in bidding for Iridium. And secondly, that AST isn't well positioned to make a large cash bid for spectrum (either from Grain or Viasat) without backing from a telco partner. That suggests that the current frantic speculation about a potential bidding war between these companies for Viasat's spectrum may be misplaced. Viasat's L-band spectrum is certainly more attractive than Iridium's more limited amount of spectrum for companies (unlike RocketLab) that are focused on a broadband D2D deployment. But one might conclude that SpaceX and Amazon want to focus on building their satellite networks rather than paying billions for more spectrum in the immediate future. And then they can see whether or not Equatys is able to move forward to deploy its own LEO D2D constellation. However, many spectrum speculators would now be deeply disappointed if Viasat actually does commit large sums of money to building a LEO D2D network and tries to compete head-on with SpaceX, Amazon and AST.

L2 Aviation and Gotonomi extend UAV connectivity beyond cellular reach. Aug 24, 2026, 21:26 ET Collaboration combines L2 Aviation's integration and certification expertise with Gotonomi's compact satellite communications technology to support reliable operations in remote and connectivity-constrained environments. ERLANGER, Ky. and CAMBRIDGE, England and CINCINNATI, Aug. 24, 2026 /PRNewswire/ - L2 Aviation, a global provider of avionics integration, engineering, certification, manufacturing, and aircraft modification services, today announced a strategic partnership with Gotonomi to advance integrated satellite connectivity solutions for uncrewed aerial vehicle (UAV) and Advanced Air Mobility (AAM) operators throughout North America. The partnership combines L2 Aviation's aviation integration and certification capabilities with Gotonomi's compact satellite communications technology. Together, the companies will help operators integrate reliable connectivity into UAV and AAM platforms operating in locations where cellular, Wi-Fi, and other terrestrial communications may be limited or unavailable. ADVANCING CONNECTED UAV OPERATIONS The planned solutions will use Gotonomi's lightweight UAV communications technology and access to Viasat's Velaris ecosystem, a satellite communications service developed for UAV and AAM operations. L2 Aviation joined the Viasat Velaris ecosystem through Galaxy 1 Communications in May 2026, bringing nearly three decades of avionics integration, certification, and safety-critical aircraft modification experience to the growing uncrewed aviation market. The partnership will support the integration of resilient connectivity for command and control, telemetry, operational information, and mission-critical data. L2 Aviation will provide the engineering, integration, installation, and certification support needed to incorporate Gotonomi technology into customer aircraft and operating platforms. "UAV and Advanced Air Mobility platforms cannot reach their full operational potential when connectivity, aircraft integration, certification, and deployment are treated as separate challenges," said Tony Bailey, President and Chief Operating Officer of L2 Aviation. "This partnership brings those disciplines together through a complete, aircraft-level solution. Gotonomi's leading-edge satellite communications technology, Viasat's Velaris service, and L2 Aviation's engineering and certification capabilities create an integrated path from system architecture and installation through regulatory approval and operational deployment. The result addresses a critical industry need for reliable command and control, telemetry, and mission data connectivity, especially when aircraft operate beyond the reach of terrestrial networks." The partnership creates a coordinated path for UAV manufacturers, operators, and mission-system providers seeking satellite-connected solutions that address aircraft integration, regulatory approval, and operational deployment. "Energy and infrastructure operators increasingly need aircraft that can remain connected well beyond the reach of traditional communications networks," said Matthew Hill, General Manager at Gotonomi. "Combining Gotonomi's compact communications technology with L2 Aviation's integration and certification experience creates a compelling pathway for operators looking to scale UAV missions into more demanding environments." EXPANDING UAV CAPABILITIES ACROSS THE ENERGY SECTOR L2 Aviation sees significant opportunities for satellite-connected UAVs across multiple industries including energy, government, and others, where operators routinely inspect and service assets across large, remote, or difficult-to-access areas. "Reliable connectivity is one of the fundamental requirements for expanding what unmanned aircraft can accomplish," said Jeff Rex, CRO of L2 Aviation "Our goal is to provide customers with more than another piece of hardware. L2 can take the connectivity technology, integrate it with mission-critical systems, address the certification and installation requirements, and deliver a complete solution that leverages the heritage of decades of experience with safety certified satellite networks." Satellite connectivity also has the potential to expand the effectiveness of Beyond Visual Line of Sight (BVLOS) operations by maintaining communications beyond the practical limits of conventional terrestrial networks. About L2 Aviation L2 Aviation is a full-service aerospace engineering, certification, manufacturing, maintenance, integration, and product-support company serving commercial, business, military, uncrewed, and special-mission aviation markets worldwide. Operating from facilities in Cincinnati, Ohio, and Indianapolis, Indiana regions, L2 provides STC development, avionics and connectivity integration, aircraft modifications, wiring harness and PMA kit production, precision machining, sheet-metal and structural fabrication, composite repair, avionics upgrades, and aftermarket aircraft materials and component sales. L2 also delivers rapid field installation, maintenance, and AOG support through its Remote Avionics Modification Services (RAMS) team. Working with aircraft operators, OEMs, government agencies, and technology providers, L2 delivers integrated, certifiable, and mission-ready solutions for complex aerospace and defense requirements. Complex Missions. Complete Solutions. Learn more at www.l2aviation.com. About Gotonomi Gotonomi develops compact satellite and cellular communications technology for uncrewed and remotely piloted vehicles. Its low-size, weight and power communications systems are designed to provide resilient connectivity for UAV operations, including command and control, telemetry and mission data, helping operators expand safe and scalable Beyond Visual Line of Sight operations. Learn more at https://gotonomi.com/