MDA Space to Acquire SatixFy Communications
Expected to Enhance Company's End-to-End Satellite Offering
A definitive agreement has been announced under which MDA Space will acquire all outstanding shares of SatixFy in an all-cash transaction for US$2.10 per share. The transaction, which represents an equity value for SatixFy of approximately $193 million (approximately C$278 million), 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.
"With this acquisition MDA Space is taking a logical next step to further reinforce our technical differentiation as the global market transitions from analog to digital satellite technology."
Mike Greenley, MDA Space
Founded in 2012, SatixFy is a supplier of cutting-edge semiconductors and solutions for the space and the satellite communications value chain. SatixFy's technology enables satellite broadband and direct-to-device constellations with its radiation hardened digital beamformers enabling them to generate hundreds of beams, designed to significantly improve satellite performance and decrease cost. SatixFy has invested approximately $270 million in research and development to date, and once closed, the transaction will bring to MDA Space a differentiated technology portfolio including more than 60 patents issued and pending, as well as a talented and largely specialized technical employee base of approximately 165 people globally. In addition to chips to support satellite payload solutions and satellite communications, the SatixFy portfolio includes gateways, multi-beam digital antennas, user terminals and modems.
"With this acquisition MDA Space is taking a logical next step to further reinforce our technical differentiation as the global market transitions from analog to digital satellite technology," said Mike Greenley, Chief Executive Officer of MDA Space. "Similar to MDA Space, SatixFy is an innovation company at its core, and bringing these two highly skilled teams together adds complementary expertise and technology that will allow us to further enhance our value proposition for current and future customers by providing vertically integrated and differentiated digital satellite solutions."
"SatixFy has consistently aimed to revolutionize the market with digital chip-based solutions while establishing a world-leading space technology company. Joining MDA Space marks a significant milestone in that journey," said Nir Barkan, Chief Executive Officer of SatixFy. "This transaction is a testament to the innovation and dedication of our employees over the past decade. It will provide the scale, resources, and stability needed to continue delivering groundbreaking solutions for our customers."
The transaction is expected to close in the third quarter of 2025 subject to customary closing conditions and required regulatory approvals. It has been unanimously approved by the Boards of Directors of MDA Space and SatixFy, as well as a Special Committee and the Audit Committee of SatixFy.