Taking Indium To the Next Step

摘要

In 2000, a group of investors purchased the assets of the bankrupt Iridium satellite phone company for $25 million, a tiny fraction of the roughly $5 billion spent deploying the system. Anchored by a $72 million, two-year contract with the U.S. Department of Defense (DoD), the new company, Iridium Satellite LLC, was able to build a business. Today, Iridium Satellite is cash-flow positive, according to Carmen Lloyd, who took over the company in October 2003. Iridium and DoD are negotiating the fourth of five one-year options on their contract, and commercial sales have outpaced government sales since 2004. But major decisions are looming. Iridium Satellite is looking for another cash infusion to start paying back its investors and lay the groundwork for a next-generation satellite system, which Lloyd says likely will not be a-carbon copy of the first. The company is weighing options that include an initial public offering (IPO) and a strategic partnership. Lloyd spoke recendy with Space News Staff Writer Missy Frederick.