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Good news for sailors: Iridium Boeing courtship ends in wedding bells

11:16 PM Sun 8 Aug 2010 GMT

'Iridium satellites in action' .

It was a ten year courtship that has ended in marriage! The world-wide satellite communications network that is so important to today's sailors was ensured last week with the extension and redefinition of the relationship between Iridium and Boeing. The move makes Boeing an exclusive and long term partner of Iridium, whose early history included bankruptcy and uncertainty before the company was purchased by a new consortium in 2001. Iridium Communications Inc. (Nasdaq:IRDM) announced that it has entered into two comprehensive, long-term agreements with The Boeing Company (NYSE:BA) that redefine the relationship between the companies for maintenance, operations and support ...

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