MDA Space to acquire Satixfy Communications for $2.10 per share

MDA Space and SatixFy Communications (SATX) jointly announced that they have entered into a definitive agreement under which MDA Space will acquire all outstanding shares of SatixFy in an all-cash transaction for $2.10 per share. The transaction, which represents an equity value for SatixFy of approximately $193M, is expected to further enhance the end-to-end satellite systems offering of MDA Space as demand for next generation digital satellite communications continues to accelerate. The transaction is expected to be accretive to MDA Space adjusted earnings in 2027 which will represent the second full year of MDA Space ownership. The transaction is also expected to realize cost savings within 12 months of closing, primarily as a result of the vertical integration of space chips and the elimination of public company costs. The transaction is expected to close in the third quarter of 2025 subject to customary closing conditions and required regulatory approvals.