Maxar sells MDA (Canada) to Northern Private Capital consortium
- Predecessor
- Maxar
- Created organization
- MDA Space Canada
Event context
Maxar Technologies announced Dec 30, 2019 a definitive agreement to sell its MDA business (Canadian and UK operations spanning ground stations, radar satellite products, robotics, defense, and satellite components, ~1,900 employees) to a consortium led by Toronto-based Northern Private Capital for CAD$1 billion (~US$765M). The sale closed April 8, 2020, re-establishing MDA as an independent Canadian company headquartered in Brampton, Ontario; Maxar used proceeds to reduce leverage. MDA later completed a TSX IPO in 2021.