Reviving Iridium
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Case Details:
Case Code : BSTR031
Case Length : 11 Pages
Period : 1999 - 2001
Organization : Iridium LLC
Pub Date : 2002
Teaching Note : Available
Countries : USA
Industry : Telecommunication
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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EXCERPTS Contd...
Resurrecting Iridium
Things changed dramatically for Iridium in late 2000 when Dan Colussy, came to the rescue of the company. He formed Iridium Satellite LLC (Iridium Satellite) and made a bid of $25 million, out of which $6.5 million was paid in cash, to acquire Iridium's business.
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This included purchasing all of Iridium's existing assets, its satellites and the satellite control network. In November 2000, the US Bankruptcy Court for the Southern District of New York approved Iridium Satellite's bid to purchase Iridium's operating assets. Following this, Colussy took many constructive steps towards positioning Iridium as the best mobile satellite service in the market. Iridium Satellite entered into a contract with aviation major Boeing to operate and maintain the 66-satellite constellation instead of Motorola, which now only provided subscriber equipment. He then introduced closely monitored plans to ensure a successful re-launch of Iridium's services. Having learnt its lessons the hard way, Iridium Satellite was careful not to repeat its mistakes Iridium had committed earlier...
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Exhibits
Exhibit I: Players in the Mss Market
Exhibit II: Iridium's Satellite System Configuration
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