Technicians put the final touches on the second of three Radarsat Constellation Mission satellites at the MDA facility on June 21, 2018 in Montreal. A Toronto-based investment firm has signed a $1-billion deal to buy the Canadian space technology company behind Radarsat Earth-observation satellites and the Canadarm robotic mechanisms on the International Space Station. THE CANADIAN PRESS/Ryan Remiorz

Canadian group to repatriate Canadarm company in $1-billion deal with Maxar

The group sees significant growth potential for MDA under its new ownership.

A Toronto-based investment firm has signed a $1-billion deal to buy the Canadian space technology company behind Radarsat Earth-observation satellites and the Canadarm robotic mechanisms on the International Space Station.

A consortium led by Northern Private Capital with financial backing from former BlackBerry co-chief executive Jim Balsillie will acquire all Canadian and U.K. operations of the former MacDonald, Dettwiler and Associates.

The group says MDA’s corporate headquarters will return to Canada, where it employs more than 1,900 people.

MDA’s headquarters and largest operations had been in the Vancouver area until Maxar Technologies was created to allow MDA’s acquisition of Colorado-based DigitalGlobe, a producer of high-resolution Earth-imagery products.

The deal to repatriate MDA’s Canadian operations will be financed by a number of sources including NPC, which is led by John Risley and Andrew Lapham, as well as Balsillie and Senvest Capital, Scotiabank and Bank of Montreal.

The group sees significant growth potential for MDA under its new ownership.

“As a Canadian, I am so proud this iconic Canadian company will once again be owned and controlled in Canada,” Risley said in a statement.

Northern Private Capital says the acquisition of MDA is expected to close in 2020 following regulatory approvals.

VIDEO: Eagle feather from B.C. flew to space with Canadian astronaut

The Canadian Press


Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Red Deer up to 4 active COVID-19 cases

Province announced 77 new confirmed cases across Alberta Friday

Cilantro and Chive ‘Dad Bod’ Burger supports childrens mental health in Lacombe

$3,068 was donated to Lacombe Community Addiction and Mental Health Office– Children’s Services

Lacombe Raiders football begins delayed Spring Camp

Football players required to follow guidelines laid out by AHS

46 new COVID-19 cases reported Wednesday in Alberta

Province has completed more than 500,000 COVID-19 tests

PODCAST: COVID-19 and the US Election

The Expert welcomes Burman University Political Scientist Marc Froese

PODCAST: The Expert tackles the return of sports

Cam Moon, Joe Whitbread, Byron Hackett and Todd Vaughan discuss how sports can come back

PODCAST: COVID-19 and the US Election

The Expert welcomes Burman University Political Scientist Marc Froese

Sylvan Lake RCMP continue search for missing man

43-year-old Steven Hull’s last known whereabouts were in the Sylvan Lake area on May 28

After lobbying, Catholic Church won $1.4B in virus aid

Faith-based organizations aren’t usually eligible for money

Supreme Court to rule on constitutionality of genetic discrimination law

Canadian Coalition for Genetic Fairness challenges ruling

Racist slurs during Conservative leadership debate not surprising: Lewis

Racist slurs during Conservative leadership debate not surprising: Lewis

Most Read