OTTAWA (dpa-AFX) - Canadian space technology firm MDA Space Ltd. (MDA, MDA.TO) announced on Friday that it has agreed to acquire U.S. spacecraft maker Blue Canyon Technologies LLC for $620 million or C$874 million in cash from Raytheon, an RTX Corp. (RTX) business.
The acquisition will add $3.5 billion, or about C$4.9 billion, to MDA Space's pipeline and is expected to be accretive to adjusted EBITDA and adjusted earnings per share in 2027.
The deal is expected to close by the end of 2026, subject to regulatory approvals. Once completed, the acquisition is expected to help MDA Space expand its U.S. business and capitalize on growing demand in the US government market for defence space missions.
Blue Canyon, a Colorado -based spacecraft and satellite component manufacturer and mission services provider, has launched more than 85 spacecraft since it was founded in 2008.
'The acquisition of Blue Canyon Technologies is expected to accelerate our growth strategy by increasing our US market opportunities with highly complementary capabilities, local manufacturing footprint and a skilled and specialized talent base,' said Mike Greenley, CEO of MDA Space.
On the NYSE, shares of MDA Space closed Thursday's trading 1.13 percent higher at $39.40.
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