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

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.

Just Posted

Boats in the Fraser River launched from Barrowtown and Ft. Langley on May 12 to search for the missing fisherman. (Steve Simpson)
Boats search the Fraser River for missing Abbotsford fisherman

Anyone with ‘a boat, time, or a drone’ to help bring Damian Dutrisac home was asked to help

Mina Shahsavar is a fourth-year student in the bachelor of science in nursing program at University of the Fraser Valley and is an employed student nurse at Abbotsford Regional Hospital. (Submitted photo)
Nursing student in Abbotsford plans for career in critical care

Mina Shahsavar inspired during hospital stays as a child

The Canadian Forensic Health Corporation, made up of (left to right) Kirstin Simpson, Adrienne Fershau, Tiffany Kafka, Susan Short and Cole Bruce, are changing the game for the forensic nurse occupation. (Submitted)
Abbotsford nurses create Canadian Forensic Health Corporation

Tiffany Kafka, Susan Short, Kirstin Simpson, Cole Bruce and Adrienne Fershau teaching new generation

A pair of deer were spotted in Abbotsford on Tuesday (May 11) morning. (Submitted)
VIDEO: Pair of deer explore Abbotsford neighbourhood

Resident captures deer duo munching on foliage and then wandering off

A 45-metre cell tower has been proposed on Simpson Road in west Abbotsford. (City of Abbotsford)
45-metre cell tower proposed for Simpson Road in Abbotsford

Installation to be on private farm land near Aldergrove border

B.C. Labour Minister Harry Bains in the B.C. legislature, May 13, 2019. (Hansard TV)
VIDEO: B.C. to provide 3 days of sick pay for COVID-19 absences

Province will support employers on cost, labour minister says

Children walk back to their classroom while wearing masks and physical distancing at St. Barnabas Catholic School in Scarborough, Ont., in October, 2020. A group of B.C. teachers has issued an open letter calling for the relaxation of non-pharmaceutical interventions for children in B.C. schools. (Nathan Denette/The Canadian Press)
Group of B.C. teachers calls for easing of pandemic measures for students

Teacher group says ‘response to COVID is out of balance to the cost our youth are paying’

Adam Hamdan has been living in Christina Lake since November 2020. Photo: Laurie Tritschler
Man acquitted on terrorist charges given temporary residence in Canada

Adam Hamdan had been facing deportation to Jordan, where he holds citizenship through his Palestinian parents

Transit Police Const. Peter Kwok was filmed in December during an encounter on the Canada Line when a woman refused to wear a mask. (Screen grab)
VIDEO: Woman who went viral by refusing to wear a mask on SkyTrain to pay $460 in fines

Footage of the December incident was recorded by the passenger, herself, and posted to social media

Lumber is shown in the back of a van in this recent image provided by the Saskatoon Police Service. The skyrocketing prices for lumber is fuelling a trend that has authorities across the country warning builders to keep their guard up. THE CANADIAN PRESS/HO-Saskatoon Police Service-Const. Derek Chesney *MANDATORY CREDIT*
‘It is a gold mine:’ Builders warned of rising lumber thefts across Canada

Many North American mills curtailed production temporarily earlier in 2020 because of COVID lockdowns

David and Julie Kaplan with their children Estelle and Justin. (Special to The News)
BC family whose move was stopped by COVID border closure back on the road

Maple Ridge’s Kaplan family will arrive at their new home in Nova Scotia on Wednesday

Bucketheads – A Star Wars Story is being filmed near the 19000-block of 16 Avenue in South Surrey. (Mychaylo Prystupa photos)
Star Wars fan film ‘Bucketheads,’ shot in Lower Mainland, makes its debut

Volunteer initiative features new LED screen technology

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Most Read