Iridium Communications Inc. (NasdaqGS:IRDM) agreed to acquire a 80% stake in Satelles, Inc. for $115 million on March 2, 2024. The transaction will be financed through a tack-on to its term loan. Iridium expects to complete the acquisition in the next few weeks.

Mark Leahy, Stephen Fisher of Fenwick & West LLP acted as legal advisor to Satelles, Inc.