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

PHOTO: Stettler ATOM female team named Zone 7 champions!

The team won Feb. 27th in overtime to land the title

Stettler’s Deacon Barclay is a young man with an inspiring vision for community-building

Barclay, who is part of the Big Brother Big Sisters organization, was named a United Way Ambassador this past fall

A new study from the Association of Communities Against Abuse details the prevalence of sexual violence in Alberta

Three out of four survivors were under the age of 18 during at least one incident of abuse

Bashaw Community Theatre presents the ‘Live Music Nightclub’ on March 28th

Musical theatre hits highlight a lively performance at the Majestic Theatre

Fashion Fridays: Tammy’s big makeover

Kim XO, helps to keep you looking good on Fashion Fridays on the Black Press Media Network

UPDATED: Racist slurs lead to school hold and secure at Ponoka school

Ermineskin Cree Nation Chief Makinaw responds

Greta sticker that drew outrage in Alberta not child pornography: RCMP

X-Site Energy Services has denied having anything to do with the stickers

Canada prepared to monitor for community spread of COVID-19: Tam

The U.S. confirmed one case of the new coronavirus, or COVID-19, in California Thursday

11-year-old Sylvan Lake burn survivor using his story to inspire others

Kaden Howard was recently named the 2020 Champion Child for the Stollery in Edmonton

Conservative MP questions whether rail blockades constitute terrorism

Crown-Indigenous Relations Minister Carolyn Bennett travelled to B.C. to meet Indigenous leaders

Lawsuit over African mine can be heard in British Columbia: Supreme Court

B.C. courts dismissed Nevsun’s attempts to make Eritrea the forum for any lawsuit proceedings

MPs to examine privacy implications of facial-recognition technology used by RCMP

The MPs will look at how the technology affects the privacy, security and safety of children

Winners and losers in Alberta’s 2020 budget

UCP government has tabled a new 20-per-cent tax on vaping devices and liquids

Most Read