India, May 14 -- 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 technology solutions for about $366.7 million, bringing the world's only space-based air traffic surveillance system fully under the satellite operator.
Iridium, an existing Aireon owner, will buy the equity interests held by NAV CANADA, AirNav Ireland, ENAV, NATS and Naviair.
The company said that half of the purchase price will be paid at closing and other half on the one-year anniversary.
The acquisition unifies Aireon's space-based ADS-B surveillance and data services with Iridium's satellite constellation and PNT services.
Air Navigation ...