Path Cleared for SatixFY Acquisition by MDA Space
Shareholders Vote Almost Unanimously to Approve the Merger
At a special meeting of shareholders on Friday, holders of the majority of outstanding ordinary shares of SatixFy voted to approve the Agreement and Plan of Merger (the “Merger Agreement”) with MDA Space, as amended and announced on May 20, 2025, pursuant to which MDA Space agreed to acquire SatixFy in an all-cash transaction (the "Merger"). The transaction is expected to close in the third quarter of this year.
"This significant milestone in the process is confirmation of the shareholder value created by this strategic transaction."
Nir Barkan, SatixFy
Over 99% of the Company’s outstanding ordinary shares that were voted at the meeting in person or by proxy were voted in favor of the adoption of the merger agreement and the merger.
"We are pleased that an overwhelming majority of SatixFy shareholders support our merger with MDA Space," said Nir Barkan, Chief Executive Officer of SatixFy. "This significant milestone in the process is confirmation of the shareholder value created by this strategic transaction, and of the strong strategic fit of SatixFy within MDA Space as the market continues to transition from analog to digital technologies.”
The merger follows an agreement between the two companies in March of this year that saw MDA Space award a $6.7 million contract to SatixFy for engineering models and space-grade chips, alongside signing an amended Authorization to Proceed (“ATP”) agreement for an additional $3.5 million for engineering work and an amendment to the existing master purchase agreement between SatixFy and MDA Space.
These latest agreements build upon the previously announced $2 million ATP for engineering work, further strengthening SatixFy’s already significant collaboration with MDA Space. The additional engineering work is associated with the completion of the development and commencing deliveries of SatixFy’s advanced chipsets, a critical component for next-generation satellite communication networks.