Space Impulse Brief:
- MDA has completed the previously announced acquisition of SatixFy Space Systems UK, the digital payload division of SatixFy Communications.
- The acquisition accelerates MDA’s market expansion in the UK and adds strategic in-country capability to produce satellite payloads.
- The acquisition will support the UK’s objective to maintain its leadership in the growing global satellite market.
PRESS RELEASE — Brampton, Ontario / October 31, 2023 — MDA Ltd. (TSX:MDA), a leading provider of advanced technology and services to the rapidly expanding global space industry, today announced it has completed the previously announced acquisition of SatixFy Space Systems UK Ltd. (SSS), the digital payload division of SatixFy Communications Ltd. (NYSE AMERICAN: SATX).
“We are thrilled to officially welcome the SSS team into MDA,” said Mike Greenley, CEO of MDA. “This acquisition bolsters MDA’s digital satellite capabilities and advances our satellite systems strategy as we continue to invest and expand in next generation satellite technology and talent to meet growing customer demand.”
The newly acquired division, based in the United Kingdom, will be integrated into MDA UK, the company’s existing UK subsidiary. The acquisition accelerates MDA’s market expansion in the UK and adds strategic in-country capability to produce satellite payloads. In addition, the SSS team will collaborate closely with MDA’s Satellite Systems business in Montreal to advance its new digital satellite product offering, adding complementary digital payload expertise and capacity.
The acquisition, which marks a significant investment of MDA in the UK market, will support the UK’s objective to maintain its leadership in the growing global satellite market.
Contact Information:
MEDIA CONTACT
Amy MacLeod
Vice President, Corporate Communications
613-796-6937
INVESTOR CONTACT
Shereen Zahawi
Senior Director, Investor Relations
647-401-3230
SOURCE: MDA
Featured image: SatixFy logo. Credit: SatixFy
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