MDA Space has entered an all-cash deal to purchase SatixFy, valuing the company at about $280m.
MDA Space, a provider of advanced technology and services to the rapidly expanding global space industry, has completed the previously announced acquisition of SatixFy Communications Ltd. (SatixFy), a global player in next-generation satellite communication solutions based on in-house-designed chipsets.
Mike Greenley, CEO of MDA Space, said: “We are pleased to officially welcome the SatixFy team to MDA Space. With the successful completion of the acquisition, our combined team will continue to deliver differentiated technology to further reinforce our satellite systems strategy and competitive advantage as demand for software-defined digital satellite solutions continues to grow.”
SatixFys operations and full technology portfolio will be integrated into the Satellite Systems business area of MDA Space.
SatixFys ordinary shares are expected to be de-listed from the NYSE American in the coming days.