/C O R R E C T I O N -- MDA Space/
/C O R R E C T I O N -- MDA Space/ |
| [19-June-2026] |
In the news release, MDA Space announces definitive agreement to acquire US-based Blue Canyon Technologies LLC, issued 19-Jun-2026 by MDA Space over PR Newswire, we are advised by the company that a change has been made. The complete, corrected release follows: MDA Space announces definitive agreement to acquire US-based Blue Canyon Technologies LLC
TORONTO, June 19, 2026 /PRNewswire/ - MDA Space Ltd. (TSX:MDA) (NYSE:MDA) (the "Company"), a trusted mission partner to the rapidly expanding global space industry, has signed a definitive agreement to acquire 100% of the membership interests of Blue Canyon Technologies LLC in an all-cash transaction for a purchase price and enterprise value of US$620 million (approximately C$874 million), subject to purchase price adjustments. Blue Canyon Technologies (BCT) is a spacecraft and satellite component manufacturer and mission services provider, currently part of RTX's Raytheon business.
With more than 85 spacecraft launched and 3,500+ products on orbit, BCT has established impressive flight heritage and mission success since the company was founded in 2008. Once completed, the transaction is expected to provide MDA Space with a strategic business and manufacturing footprint to capitalize on growing demand in the US government market for defence space missions. With over 400 highly skilled employees and two manufacturing facilities in the Denver, Colorado space and aerospace hub, BCT offers a diverse and innovative product portfolio that enables a broad range of missions for the space economy. "The acquisition of Blue Canyon Technologies is expected to accelerate our growth strategy by increasing our US market opportunities with highly complementary capabilities, local manufacturing footprint and a skilled and specialized talent base," said Mike Greenley, CEO of MDA Space. "Securing those strategic benefits on an accretive basis with a profitable and cash-generating business makes this an ideal fit for MDA Space expansion and continued shareholder value creation." Transaction Details The transaction will add a profitable, cash-generating business that is expected to be accretive to Adjusted EBITDA and Adjusted EPS in 2027. With an 18-year history, BCT is a high-quality spacecraft and satellite component supplier that will add US$3.5B (approximately C$4.9B) to our opportunity pipeline. The transaction is expected to close by the end of 2026, subject to customary closing conditions and required regulatory approvals, and is fully committed and financed at signing through senior secured debt. As part of our ongoing capital allocation framework, we will evaluate opportunities to optimize our capital structure over time, subject to market conditions and broader capital deployment priorities. This transaction is expected to result in 2026 pro forma leverage within our stated target range of 1.5x to 2.5x net debt to last twelve months adjusted EBITDA. Conference Call MDA Space will host a conference call and webcast to discuss the transaction on Friday, June 19, 2026 at 8:30 a.m. ET. Interested parties can join the call by dialing 1-416-945-7677 (Toronto area) or 1-888-699-1199 (toll-free North America) or +44-800-279-7040 (toll-free United Kingdom) and entering the conference ID 30111. A live webcast of the conference call and an accompanying slide presentation will be available at https://mda-en.investorroom.com/events-presentations. A replay of the webcast will be archived on the MDA Space Investor Relations website following the call. Parties may also access a recording of the call, which will be available until June 26, 2026, by dialing 1-888-660-6345 and entering the passcode 30111#. FORWARD-LOOKING STATEMENTS All forward-looking statements are based on assumptions and analyses made by MDA Space in light of management's experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties and other factors which may cause the actual results, performance or achievements of MDA Space to differ materially from those anticipated in such forward-looking statements for a variety of reasons, including without limitation the risk that the acquisition will not be completed on the anticipated timeline or at all, the risk that conditions to the closing of the acquisition will not be satisfied, including the receipt of all required regulatory, governmental and third-party approvals, and the risks and uncertainties detailed under the "Risk Factors" section of MDA Space's annual information form dated March 4, 2026. Although MDA Space believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect and there can be no assurance that actual results will be consistent with the forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements or information included within this press release. These forward-looking statements speak only as of the date of this news release. Except as required by law, MDA Space is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. ABOUT MDA SPACE SOCIAL MEDIA 1 Non-IFRS measure Correction: The MDA logo has been exchanged for the MDA Space logo.
SOURCE MDA Space | ||
Company Codes: Toronto:MDA,NYSE:MDA |
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