McLean, Virginia-based Iridium Communications (Nasdaq: IRDM) has closed its purchase of Satelles and launched a satellite-based time and location service as part of its portfolio of offerings.
The Iridium Satellite Time and Location service works indoors and is designed to safeguard GPS and other Global Navigation Satellite Systems-reliant platforms from jamming, spoofing and other vulnerabilities using small, low-cost hardware, the company said Tuesday.
“The initial feedback we’ve gotten from partners in the short time since the initial announcement has made us even more excited about Iridium STL’s potential,” said Iridium CEO Matt Desch.
“We’re ready to step on the gas and expand the availability of Iridium STL to markets around the world,” added Desch, a 2024 Wash100 awardee.
Iridium STL works to deliver secure time and location signals worldwide, can operate during regional GNSS system outages and is powered by the crosslinked low Earth orbit architecture of the company’s satellite constellation.
In early March, Iridium agreed to acquire Reston, Virginia-based Satelles for approximately $115 million as part of a push to expand its portfolio of assured positioning navigation and timing services.
By 2030, the new Iridium STL business segment is expected to generate an annual service revenue of over $100 million.
