Canadian space technology company MDA Space has announced an agreement to acquire U.S.-based Blue Canyon Technologies from RTX Corporation’s Raytheon business for $620 million in cash. The acquisition is aimed at strengthening MDA Space’s presence in the rapidly growing U.S. defense and space market, as governments continue to increase investments in defense, satellite, and space exploration programs.
Founded in 2008 and headquartered in Colorado, Blue Canyon Technologies specializes in designing and manufacturing small satellites, spacecraft buses, and mission systems for commercial, civil, and defense customers. The deal will add Blue Canyon’s two manufacturing facilities in Denver and a workforce of more than 400 employees to MDA Space’s operations. RTX acquired Blue Canyon Technologies in 2020.
MDA Space said the acquisition is expected to add approximately $3.5 billion to its business opportunity pipeline and contribute positively to adjusted EBITDA and earnings per share by 2027. The transaction is expected to close by the end of 2026, subject to regulatory approvals and customary closing conditions.
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