MDA Space announced that it has signed a definitive agreement to acquire 100% of the membership interests of Blue Canyon Technologies in an all-cash transaction valued at $620 million, or about C$874 million, subject to purchase price adjustments.
Blue Canyon Technologies is a spacecraft and satellite component manufacturer and mission services provider currently part of RTX’s Raytheon business.
The acquisition is expected to expand MDA Space’s total addressable market and strengthen its position to pursue U.S. defense space opportunities.
Founded in 2008, Blue Canyon Technologies has launched more than 85 spacecraft and has more than 3,500 products on orbit. The company has built flight heritage across a range of space missions and offers spacecraft, satellite components, and mission services for the broader space economy.
The company has more than 400 employees and two manufacturing facilities in the Denver, Colorado, space and aerospace hub.
MDA Space said the acquisition will add complementary technology, an expanded customer set, and a U.S. manufacturing footprint. The deal is also expected to add about $3.5 billion, or approximately C$4.9 billion, to MDA Space’s opportunity pipeline.
The transaction is expected to add a profitable, cash-generating business and be accretive to adjusted EBITDA and adjusted EPS in 2027.
MDA Space expects the transaction to close by the end of 2026, subject to customary closing conditions and required regulatory approvals. The deal is fully committed and financed at signing through senior secured debt.
MDA Space said the acquisition will support its strategy of expanding across the global defense and space industry while building on its existing capabilities in robotics, satellite systems, geointelligence, communications satellites, Earth and space observation, and space exploration infrastructure.
KEY QUOTES:
“The acquisition of Blue Canyon Technologies is expected to accelerate our growth strategy by increasing our US market opportunities with highly complementary capabilities, local manufacturing footprint and a skilled and specialized talent base. Securing those strategic benefits on an accretive basis with a profitable and cash-generating business makes this an ideal fit for MDA Space expansion and continued shareholder value creation.”
Mike Greenley, CEO of MDA Space
