Status: Clearance

Acquirer: Northern Private Capital (Canada); Neptune Acquisition Inc. (Canada)

Acquired: MDA Business of Maxar Technologies Inc. (Canada)

Value: $765 million

Industry Tags: Aerospace, Satellites, Space, Technology

On December 30, 2019, Maxar Technologies (NYSE:MAXR) (TSX:MAXR), a provider of “Earth Intelligence and Space Infrastructure,” entered into a definitive agreement to sell its Canada-based segment, MDA to a consortium of private investors led by Toronto based Northern Private Capital, for CAD$1 billion (US$765 million) (Press Release, Maxar Technologies Inc., Form 8-K, Ex-99-1, Dec. 30, 2019, SEC Filing.)  MDA’s Canadian businesses encompasses “ground stations, radar satellite products, robotics, defense, and satellite components.” (Id.)  Maxar Technologies made “the decision . . . to sell the Canada-based segment, MDA, to Northern Private Capital, re-domesticating those capabilities that are viewed as critical to Canada’s space programs.”  (Maxar Technologies Schedule 14A, Mar. 31, 2020, SEC Filing.) “The closing of the transaction is conditioned on customary closing conditions and on specified regulatory approvals, including review by the Committee on Foreign Investment in the United States . . .” (Maxar Technologies Inc., Form 8-K, Dec. 30, 2019, SEC Filing.) On April 8, 2020, Maxar Technologies Inc. “announced it ha[d] closed the sale of MDA…”(Press Release, Maxar Technologies Inc., Form 8-K, Ex-99-1, Apr. 8, 2020, SEC Filing.)

Please contact us with any questions.