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Telecom pioneer hitches up with rocket venture

Back in the 1990s, cellular telecom pioneer Craig McCaw bought into a vision of ubiquitous wireless service via a constellation of satellites, with an assist from Microsoft co-founder Bill Gates.

Almost a quarter-century later, McCaw’s Teledesic venture is long-dead, but the dream lives on — thanks to the impending merger of McCaw’s Holicity “blank check” company and Astra, one of the rising stars of the satellite launch industry.

The deal — which takes advantage of the trend toward using special purpose acquisition companies, or SPACs, to take startups public — values Astra at a double-unicorn level of $2.1 billion, and would unlock up to $500 million in cash proceeds.

Not bad for a space company that hasn’t yet quite made it to orbit.

By Alan Boyle

Mastermind of Cosmic Log, contributing editor at GeekWire, author of "The Case for Pluto: How a Little Planet Made a Big Difference," president of the Council for the Advancement of Science Writing. Check out "About Alan Boyle" for more fun facts.

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