Maxar Technologies has sold its Canada-based MDA unit to a consortium of private equity investors led by Northern Private Capital. The sale was worth Can$1 million. Net proceeds will be around US$729 million.
The sale, plus the recent disposal of certain real estate assets in Palo Alto, California, means the company can reduce its overall debt by about US$1 billion.
In its Space Infrastructure segment, Maxar is responsible for providing operational support to 92 on-orbit, operating communications satellites worldwide. A large proportion of these provide critical communications to national governments, state and local first responders and television and radio networks. The company also continues work on various satellite programs that will provide important resiliency and continuity for these critical communications and network infrastructures.
“The closing of the MDA transaction concludes the near-term reshaping of our balance sheet and business portfolio,” said Dan Jablonsky, Maxar CEO. “Going forward, our growth strategy remains focused on providing leading capabilities in Earth Intelligence and Space Infrastructure, including geospatial data, data analytics and spacecraft and robotics that are well aligned with the strategic priorities of our government and commercial customers.”
MDA, now a separate business, will continue to work in its space robotics and remote sensing activity.