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

Penticton’s Slackwater Brewing to host Australian bushfire fundraiser

Money raised at Australia day party goes directly to Victoria Bushfire Relief Fund

Successful Canadian Sport School coming to Penticton

A meeting is planned for February about Canadian Sport School - Penticton

Peachfest announces 2020 headliners

Glass Tiger and Honeymoon Suite back featuring large in the list of headliners.

U.S. lawyer charged with allegedly smuggling restricted firearms across Osoyoos border

Shawn Jensen allegedly smuggled AR-15, Ruger .22 over U.S./Canada border, with no licence.

Okanagan among Canada’s most at-risk habitats: WWF report

Report found the Okanagan is inadequately protected despite being a hotspot for at-risk species

UBCO students raise funds for those affected by Philippine volcano eruption

All proceeds will be donated to the Philippine Red Cross

B.C.-based Coulson Aviation C-130 crashes in Australia

Three people are confirmed dead in the crash in New South Wales

New nasal spray launched in Canada to combat hypoglycemic shock in diabetics

Baqsimi is a nasal spray contains three milligrams of glucagon

Prices for recreational marijuana in B.C. down from a year ago

New inflation figures show gasoline, housing and certain kinds of food cost more

B.C. RCMP spent roughly $750K on massive manhunt for Port Alberni men

Manitoba RCMP helped with 17-day search through the province’s northern terrain

Future space homes could be made of mushrooms

NASA explores use of fungi to build structures in space

Veteran B.C. journalist battles cancer through pioneering immunotherapy treatment

Vancouver Island rallies around JR Rardon and family during stay in Seattle

Most Read