Further strengthens MDA's digital satellite
capability in growing LEO constellation market
BRAMPTON, ON, Oct. 31,
2023 /PRNewswire/ - MDA Ltd. (TSX: MDA), a leading
provider of advanced technology and services to the rapidly
expanding global space industry, today announced it has completed
the previously announced acquisition of SatixFy Space Systems UK
Ltd. (SSS), the digital payload division of SatixFy
Communications Ltd. (NYSE AMERICAN: SATX).
"We are thrilled to officially welcome the SSS team into MDA,"
said Mike Greenley, CEO of MDA.
"This acquisition bolsters MDA's digital satellite capabilities and
advances our satellite systems strategy as we continue to invest
and expand in next generation satellite technology and talent to
meet growing customer demand."
The newly acquired division, based in the United Kingdom, will be integrated into
MDA UK, the company's existing UK
subsidiary. The acquisition accelerates MDA's market expansion in
the UK and adds strategic in-country capability to produce
satellite payloads. In addition, the SSS team will collaborate
closely with MDA's Satellite Systems business in Montreal to advance its new digital satellite
product offering, adding complementary digital payload expertise
and capacity.
The acquisition, which marks a significant investment of MDA in
the UK market, will support the UK's objective to maintain its
leadership in the growing global satellite market.
ABOUT MDA
Serving the world from its Canadian home and global offices, MDA
(TSX: MDA) is an international space mission partner and a
robotics, satellite systems and geointelligence pioneer with a
50-year story of firsts on and above the Earth. With over 2,800
employees across Canada, the US
and the UK, MDA is leading the charge towards viable Moon colonies,
enhanced Earth observation, communication in a hyper-connected
world, and more. With a track record of making space ambitions come
true, MDA enables highly skilled people to continually push
boundaries, tackle big challenges, and imagine solutions that
inspire and endure to change the world for the better, on the
ground and in the stars. Learn more by visiting mda.space.
FORWARD-LOOKING
STATEMENTS
This press release contains forward–looking information within
the meaning of applicable securities legislation, which reflects
the Company's current expectations regarding future events.
Forward–looking information is based on a number of assumptions and
is subject to a number of risks and uncertainties, many of which
are beyond the Company's control, which could cause actual results
and events to differ materially from those that are disclosed in or
implied by such forward–looking information. Such risks and
uncertainties include, but are not limited to, the factors
discussed under "Risk Factors" in MDA's Annual Information Form
available on SEDAR+ at www.sedarplus.ca. MDA does not
undertake any obligation to update such forward–looking
information, whether as a result of new information, future events
or otherwise, except as expressly required by applicable law.
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SOURCE MDA Ltd.