Blue Canyon Technologies (BCT), now a part of RTX, is a vertically-integrated spacecraft manufacturer specializing in small satellites and spacecraft systems. They provide turnkey solutions, CubeSats, microsats, components, and subsystems like attitude determination and control systems (ADCS). BCT supports various missions for customers like the U.S. Air Force, NASA, and the Defense Advanced Research Projects Agency, and is known for its cost-efficient, high-performance solutions. Key products include spacecraft buses, star trackers, and reaction wheels.
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MDA Space Ltd. has signed a definitive agreement to acquire Blue Canyon Technologies LLC from RTX’s Raytheon business for $620 million in an all-cash transaction.
Blue Canyon Technologies is a spacecraft and satellite component manufacturer and mission services provider based in Denver, Colorado.
The Blue Canyon Technologies transaction adds a $3.5 billion pipeline of potential business to MDA Space.
The Blue Canyon Technologies transaction adds a profitable and cash-generating asset to MDA Space’s portfolio.
Blue Canyon Technologies has an 18-year operating history.
Blue Canyon Technologies has an existing opportunity pipeline of approximately $3.5 billion, or approximately $4.9 billion Canadian.
The final Blue Canyon Technologies transaction will require a Foreign Ownership, Control, or Influence mitigation agreement because Blue Canyon Technologies is a cleared U.S. defence contractor.
MDA Space acquired Colorado-based Blue Canyon Technologies from RTX Corporation in an all-cash deal valued at US$620 million.
The Blue Canyon Technologies acquisition gives MDA Space in-house vertical integration for precision guidance, navigation, and control systems.
The Blue Canyon Technologies acquisition adds US$3.5 billion to MDA Space’s total pipeline.
MDA Space can more rapidly configure its Aurora and Midnight satellite platforms for specific military missions after acquiring Blue Canyon Technologies.
Blue Canyon Technologies has an active pipeline of modular spacecraft component manufacturing, and 75 percent of its revenue is tied directly to the defence sector.
Blue Canyon Technologies’ 2026E revenue is projected at approximately $160 million USD.
MDA Space is purchasing RTX’s Blue Canyon Technologies.
MDA Space expects the Blue Canyon transaction to be accretive to adjusted EBITDA and adjusted EPS in 2027.
Blue Canyon Technologies’ financial results are expected to be consolidated within MDA Space’s Satellite Systems segment.
The Blue Canyon transaction is priced at 3.9 times forecasted 2026 revenue and 20 times EBITDA.
Terran Orbital and Blue Canyon scaled through Space Development Agency bus-supplier work before being absorbed into Lockheed Martin and RTX, respectively.
Dawn Aerospace’s proven radiation-tolerant electronics were first contracted on SatDrives for Blue Canyon Technologies in 2024.
Blue Canyon Technologies ordered Dawn Aerospace SatDrives for two Venus-class microsatellite buses in 2024.