MDA completes acquisition of DigitalGlobe
MacDonald, Dettwiler and Associates Ltd. announced on October 5 that it has completed its acquisition of DigitalGlobe, Inc. The merger creates the leading integrated commercial provider of satellites, imagery and geospatial solutions to commercial and government customers worldwide. The newly combined company will offer a broader set of space-based solutions, increased scale and a more diversified revenue base.
“Today is a very exciting day for our customers, partners, employees and shareholders,” said Howard L. Lance, president and chief executive officer of MDA. “Together, in partnership with the outstanding team at DigitalGlobe, our combined company will offer an unmatched suite of solutions, benefit from increased scale and a more diversified revenue base, and drive increased value by leveraging the sales channels of both companies. The combination of our strong, diversified core businesses will create expanded opportunities for team members and customers alike. I am very excited to get to work with the new leadership team to drive top and bottom line growth and future success.”
NEW CORPORATE NAME
The Company also announced today that MacDonald, Dettwiler and Associates Ltd. (MDA) will become Maxar Technologies Ltd., and its U.S.-headquartered operating company, SSL MDA Holdings, Inc., will become Maxar Technologies Holdings Inc. The new Maxar Technologies launches a distinctive group of leading space brands, technologies and capabilities.
“Our new corporate name highlights the broader capabilities of the combined organization,” said Lance. “Maxar Technologies encompasses four of the leading commercial space technology brands—SSL, MDA, DigitalGlobe and Radiant—and represents the expanded benefits and value we will offer to our customers, shareholders, partners and employees.” The Company plans to continue to use the individual business unit brands and will roll out the new corporate branding design elements by the end of 2017.
MDA undertook a major corporate reorganization in May 2016 as part of its “U.S. Access Plan” strategy, including the appointment of Lance and the formation of SSL MDA Holdings, Inc., with its headquarters in San Francisco, which manages and controls all of the Company’s operations across Canada, the U.S. and internationally. This process was completed under the guidance and approval of the U.S. Department of Defense, whereby SSL MDA Holdings operates under a Security Control Agreement. This structure allows the Company to pursue and execute U.S. government programs that require security clearances.
In addition, as announced at the time of the proposed merger, the Company has committed to further reorganize all or part of the combined Company’s corporate and operating structure to ensure the ultimate parent of DigitalGlobe is incorporated in the U.S. by the end of 2019, subject to customary approvals.