MDA secures Space Systems/Loral
Canada-based space technology company MDA has wrapped its purchase of satellite builder Space Systems/Loral (SS/L). The deal, announced back in June, sees MDA pay $1.1 billion to SS/L’s owners Loral Space & Communications. The structure of the deal see MDA pay over $968 million in cash, and another $101 million to cover property assets.
The purchase gives the Canadian company, already well versed in supplying robotic components to the USA’s Space Shuttle programme, a major foothold into supplying the world’s commercial satellite operators.
MDA typically has revenues of around $800 million, while SS/L is already in the billion dollar league with this past year’s revenues topping $1.1 billion.