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.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Stephanie Cadieux, recently re-elected as MLA for Surrey South, has been named BC Liberal Caucus Chair. (contributed photo)
Surrey South MLA Stephanie Cadieux named Liberal caucus chair

Longtime MLA confident BC Liberals will present an effective opposition

The 3D Digital Breast Tomosynthesis Mammography machine, new to the Surrey Breast Health Clinic at the Jim Pattison Outpatient Care and Surgery Centre. (submitted photo)
New 3D breast-cancer technology in Surrey ‘has already helped so many women’

Digital breast tomosynthesis new to Surrey Breast Health Clinic

Anita Huberman, CEO Surrey Board of Trade. (File photo: Tom Zytaruk)
Surrey Board of Trade calls for ‘immediate’ government help for businesses shut down

‘Don’t punish all businesses for the sins of a few,’ CEO Anita Huberman says

Gurdawara Sahib Dasmesh Darbar in Surrey is warning the public of a possible COVID-19 exposure at the temple between Nov. 18 and 20. (Photo: Google Street View)
Surrey gurdwara warns of possible COVID-19 exposure

Facebook post says individual was at the temple Nov. 18 to 20

Provincial health officer Dr. Bonnie Henry updates B.C.’s COVID-19 situation at the B.C. legislature, Nov. 23, 2020. (B.C. government)
B.C. daily COVID-19 cases hits record 941 on Tuesday

Further restrictions on indoor exercise take effect

(Pixabay.com)
Man, 28, warned by Kootenay police to stop asking people to marry him

A woman initially reported the incident to police before they discovered others had been popped the question

Winston Blackmore (left) and James Oler (right) were sentenced on separate charges of polygamy this week in Cranbrook Supreme Court.
No more charges expected in Bountiful investigation, special prosecutor says

Special prosecutor says mandate has ended following review of evidence from Bountiful investigations

(Ashley Wadhwani/Black Press Media)
Refuse to follow B.C.’s mask mandate? Face a $230 fine

Masks are now required to be worn by all British Columbians, 12 years and older

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

Join Black Press Media and Do Some Good
Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

BC Teachers' Federation President Teri Mooring is asking parents of school-aged children to encourage the wearing of masks when possible in schools. (THE CANADIAN PRESS/Chad Hipolito)
LETTER: Teachers union encourages culture of mask wearing in B.C. schools

BCTF President Teri Mooring asks parents to talk with children about wearing masks in school

Prime Minister Justin Trudeau speak to the media about the COVID-19 virus outside Rideau Cottage in Ottawa, Friday, Nov. 20, 2020. THE CANADIAN PRESS/Adrian Wyld
Canada’s inability to manufacture vaccines in-house will delay distribution: Trudeau

First doses of COVID-19 vaccine expected in first few months of 2021, prime minister says

Police lights
Vancouver elementary school locked down after unknown man walks into classroom

Police arrested the man and sent him for a psych evaluation

Most Read