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

COVID-19 highlights lack of connectivity in First Nations communities

Many don’t have access required to utilize online platforms, says First Nations Technology Council

Salmon closures announced for Skeena and Nass watersheds

DFO notice expands on May 21 chinook ban throughout Skeena watershed

Locals getting good grades when it comes to social distancing: RCMP

The local detachment said the public has been responsible with adhering to COVID-19 practices

Union calling for Save-On-Foods to Extend COVID-19 worker incentive program

Save-On-Foods is ending its two-dollar-an-hour pay increase on May 30

Bish Creek fire removed from Province’s Wildfire Dashboard

Unclear when investigation into fire’s cause will be completed

VIDEO: Humpback whales put on quite a show

The ‘playful’ pod lingered by a Campbell River tour operator’s boat for quite some time

B.C. woman launches First Nations search, rescue and patrol program

Linda Peters envisions trained searchers ready to go at moment’s notice in each B.C. First Nation

Large cruise ships barred from Canadian waters until end of October: Garneau

Last year 140 cruise ships brought more than two million visitors to Canadian ports

Man who bound, murdered Vancouver Island teen still a risk to public: parole board

Kimberly Proctor’s killer is still ‘mismanaging emotions,’ has had ‘temper tantrums’

Getting hitched at historic B.C. gold rush town still on table during COVID-19 pandemic

Micro-weddings, online visits, offered at Barkerville Historic Town and Park

Introducing the West Coast Traveller: A voyage of the mind

Top armchair travel content for Alaska, Yukon, BC, Alberta, Washington, Oregon and California!

Revelstoke woman finds welcoming letter on her Alberta-registered truck

There have been multiple reports online of vandalism to vehicles with Alberta licence plates

Spirit bear possibly spotted in West Kootenay

A local resident spotted the white-coloured bear while on an evening trail run near Castlegar on May 27

B.C. businesses ‘can’t shoulder burden’ of COVID-19 sick pay

Trudeau’s plan should be tied to federal emergency aid

Most Read