Boston, MA 03/14/2014 (wallstreetpr) – Iridium Communications Inc. (NASDAQ:IRDM) provides mobile voice and data communications via satellite. These services are offered to governments (including the U.S.), businesses and consumers across the world. The company has about 66 satellites constellation in-orbit. These are the kind of services that have increasingly become vital for airlines to ensure more enhanced air traffic communication.
The disappearance of the Malaysian Airline jet has brought to the fore the need for the kind of air traffic system that Iridium Communications Inc. (NASDAQ:IRDM) is developing. But more about this and the latest partnership that the company has inked in a short while, for now is a recap of the stock performance in the previous session.
Shares of Iridium Communications Inc. (NASDAQ:IRDM) rose 4.74 percent to $7.73 Thursday. The day saw the shares changing hands between $7.43 and $7.86. And more than normal share volume was traded in the Thursday session. Over the last 12 months investors have been willing to buy or sell shares of Iridium Communications Inc. (NASDAQ:IRDM) at the price of between $5.37 and $9.22.
Partnership with Rutgers University
Iridium Communications Inc. (NASDAQ:IRDM) has come over to give a boost to the program spearheaded by Rutgers Coastal Ocean Observation Lab for the gathering of ocean data. The program will now be able to get free airtime connectivity service from IRDM which supplies communications network for data transmitting using underwater vehicles.
Malaysia plane disappearance
Iridium Communications Inc. (NASDAQ:IRDM) through Aireon which it partially owns, is developing a more enhanced global satellite-based air traffic system that will change the way planes flying over mountains and oceans are tracked. This technology will obviously come in handy for airlines and governments to deal with the kind of plane disappearance scenario that has been witnessed in Malaysia.
From business standpoint, the increasing need for more effective air traffic communication systems means that this breakthrough technology will be having customers ready for acquisition. And this will obviously enhance Iridium Communications Inc. (NASDAQ:IRDM)’s revenue.
