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 by Marc Kitteringham, Campbell River Mirror
Bystanders keep fire from spreading near McIvor Lake turnoff

‘Just be vigilant and careful,’ says Campbell River fire chief

The Pier Street Farmers Market will once again take up residence on Sundays from May to Septmber at the parking lot across from the Community Centre in downtown Campbell River for 2021. Mirror File Photo
Pier Street Farmers Market returns to Cedar Street parking lot for 2021

…and it’s hoped that the addition of artisans this year will make it even better

Some recommendations from the Downtown Safety Select Committee have been approved by Campbell River City Council, including removing the glass stage covering at Spirit Square. Photo by Marc Kitteringham, Campbell River Mirror
Council going ahead with removing Spirit Square stage covering

But mayor acknowledges need for ‘welcoming, warm place with support services’

A small fire on North Rendezvous Island is the first wildfire of the season in the Campbell River area. Officials are asking people to take caution when burning during these dry conditions. BC Wildfire Dashboard
‘Conditions are tricky at the moment’ warns Coastal Fire Centre

Small fire on North Rendezvous Island first of the season for Campbell River area

Rainbow trouts thrashing with life as they’re about to be transferred to the largest lake of their lives, even though it’s pretty small. These rainbows have a blue tinge because they matched the blue of their hatchery pen, but soon they’ll take on the green-browns of their new home at Lookout Lake. (Zoe Ducklow/News Staff)
VIDEO: B.C. lake stocked with hatchery trout to delight of a seniors fishing club

The Cherish Trout Scouts made plans to come back fishing soon

Vancouver Police Const. Deepak Sood is under review by the Independent Investigations Office of B.C. after being recorded making comments to a DTES harm reduction advocate Sunday, April 11. (Sarah Blyth/Screen grab)
VIDEO: Police officer convicted of uttering threats under B.C. watchdog review again

Const. Deepak Sood was recorded Sunday saying ‘I’ll smack you’ and ‘go back to selling drugs’ to civilian Sarah Blyth

Provincial health officer Dr. Bonnie Henry prepares a daily update on the coronavirus pandemic, April 21, 2020. (B.C. Government)
B.C.’s COVID-19 infection rate persists, 1,005 new cases Friday

Hospitalization up to 425, six more virus-related deaths

B.C. Premier John Horgan greets Lt. Governor Janet Austin's dog Macduff as she arrives to present the throne speech at the B.C. legislature, April 12, 2021. (B.C. government)
B.C. Premier John Horgan gets AstraZeneca shot, encourages others

27% of B.C. residents have now been vaccinated against COVID-19

The Nautical Dog Cafe at Skaha marina is getting its patio ready in hopes Mother Nature will provide where provincial restrictions have taken away indoor dining. (Facebook)
‘A lot of instability’: B.C. restaurants in layoff limbo

As COVID-19 cases stay high, restaurants in British Columbia are closed to indoor dining

Prime Minister Justin Trudeau looks on as Deputy Prime Minister and Finance Minister Chrystia Freeland responds to a question during a news conference on Parliament Hill in Ottawa, Tuesday, Aug. 18, 2020. THE CANADIAN PRESS/Adrian Wyld
Expectations high as Trudeau Liberals get ready to unveil first pandemic budget

The Liberals will look to thread an economic needle with Monday’s budget

John Furlong, Own The Podium board chairman and former CEO of the Vancouver Olympics, addresses a Vancouver Board of Trade luncheon in Vancouver, B.C., on Wednesday November 25, 2015.THE CANADIAN PRESS/Darryl Dyck
John Furlong presents 2030 Winter Games vision to Vancouver Board of Trade

Vancouver and Whistler would remain among host sites because of 2010 sport venues still operational

Photo by Metro Creative Connection
New campgrounds coming to B.C. parks as part of $83M provincial boost

This season alone, 185 campsites are being added to provincial parks, says Minister of Environment and Climate Change

The Nanaimo Clippers’ game against the Alberni Valley Bulldogs slated for Thursday, April 15, has been postponed due to a “potential positive COVID-19 test result,” says the BCHL. (News Bulletin file photo)
Nanaimo Clippers COVID-19 test negative, team can practise and play

Junior A hockey team had suspended activities the day before out of ‘abundance of caution’

Most Read