Iridium Communications Extends Its Internet of Things Coverage Globally

In a much-anticipated move, Iridium Communications (NASDAQ: IRDM) newest service, CloudConnect, expanded its coverage in late January on a global scale. Iridium, a leading provider in the satellite data and communications sector, expects the service to be a game-changer for the Internet of Things (IoT) industry as it will allow any partnered IoT device to stay connected to the internet using Iridium's network of satellites.

The goal of the service is to provide better coverage and connectivity of IoT enabled devices without the need for traditional internet delivery devices like routers or cell towers. This will allow customers in less-developed regions or countries to have better access to internet-enabled devices. 

Iridium sees the roll-out of CloudConnect globally as a potential revenue booster. But will international companies actually subscribe to the service and make CloudConnect successful on a global scale?

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Source Fool.com