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

Woman raised in Salmon Arm on COVID-19 frontline with field hospital in Italy

Bev Kauffeldt is leading a medical team at the temporary hospital run by Samaritan’s Purse

COVID-19: Staying home in Salmon Arm is difficult when you don’t have one

As the snow flies, people without homes talk about how tough life is

General exposure to public low after inmate tests positive for COVID-19: Interior Health

The Okanagan Correctional Centre inmate is receiving appropriate care

Presence of auxiliary volunteers missed at Salmon Arm hospital during pandemic

Shuswap Lake Health Care Auxiliary still chips in two iPads so patients can connect with families

Column: Helping one another through these challenging times

Director’s Notes by CSRD Area C director Paul Demenok

VIDEO: How doctors in Canada will decide who lives and dies if pandemic worsens

Officials in several provinces have been developing guides so that doctors don’t feel alone

Colouring book will feature images of Summerland

Project is a joint initiative of Summerland Museum and Summerland Community Arts Council

KGH Foundation establishes COVID-19 response fund to support frontline workers

Doctors, nurses and staff have been challenged to pivot operations to prepare for the COVID-19 pandemic

Sex workers face new risks during COVID-19 pandemic

‘Desperation has kicked in’ for vulnerable, undocumented workers unable to access help

Unclear if Cowichan couple refusing to self-isolate will face penalty

No fines or charges have been laid to date, including Cowichan couple who won’t self isolate

Food support continues for Okanagan students despite school closures

Kids aren’t going hungry thanks to Kal Rotary and Starfish Backpack program

Emergency services respond to numerous incidents on Highway 1

Today there were multiple semi truck crashes on Highway 1 and a collision by the hospital

Large item collection events cancelled in Regional District of Okanagan Similkameen

Concerns about spread of COVID-19 led to decision to cancel collection events

Most Read