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MDA Ltd ( (TSE:MDA) ) has provided an update.
MDA Space Ltd. has announced the acquisition of SatixFy Communications Ltd. in a deal valued at approximately US$193 million. This acquisition is expected to enhance MDA Space’s satellite systems offerings by integrating SatixFy’s advanced technology portfolio, which includes over 60 patents and a specialized technical team. The move aims to strengthen MDA Space’s position in the rapidly growing digital satellite communications market, driven by increasing demand for satellite-based broadband and IoT connectivity. The acquisition will also allow MDA Space to retire SatixFy’s existing debt, further solidifying its market position.
More about MDA Ltd
MDA Space Ltd. is a trusted mission partner in the global space industry, offering end-to-end satellite systems. SatixFy Communications Ltd. is a leader in next-generation satellite communication solutions, specializing in in-house-designed chipsets that enable satellite broadband and direct-to-device constellations.
YTD Price Performance: -3.51%
Average Trading Volume: 534,206
Technical Sentiment Signal: Hold
Current Market Cap: C$3.31B
See more data about MDA stock on TipRanks’ Stock Analysis page.