WASHINGTON — Rocket Lab is acquiring satellite telecommunications company Iridium for $8 billion as part of its effort to become an end-to-end space company.

The companies announced an agreement June 29 under which Rocket Lab will acquire Iridium for $54 a share in cash and stock, valuing Iridium at $8 billion. That is a 24% premium over the closing price of Iridium’s shares June 26. The deal is projected to close in mid-2027 pending regulatory and other approvals.

Iridium operates a constellation of 66 satellites, with 14 on-orbit spares, that provides phone and data services using L-band spectrum. That includes aviation tracking services from Aireon, which Iridium acquired in May for $367 million by purchasing the 61% stake it did not already own, as well as a recent push into positioning, navigation and timing, or PNT, services.