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MDA Space offers to buy a majority interest in French satellite firm
- On Wednesday, MDA Space Ltd. announced a firm offer to acquire approximately 70% of Collecte Localisation Satellites for about €567 million, while concurrently launching a US$712 million bought-deal common share offering.
- MDA Space seeks to create a vertically integrated geointelligence leader by combining upstream satellite assets with CLS's downstream AI-driven analytics, proprietary algorithms, and satellite IoT solutions.
- Underwriters agreed to purchase approximately 20 million common shares at US$35.60 per share, while CLS serves more than 14,000 customers in approximately 150 countries.
- The acquisition is expected to be accretive to adjusted EBITDA and adjusted EPS within the first year, while doubling MDA Space's recurring revenue stream and expanding its global footprint with 40 sites worldwide.
- Completion is expected by the end of 2026 or early 2027, subject to regulatory approvals and French employee consultations, with the Centre national d'études spatiales retaining approximately 30% interest in CLS.
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14 Articles
14 Articles
The Toronto Star+2 Reposted by 2 other sources
MDA Space Enters into Firm Offer to Acquire Collecte Localisation Satellites (“CLS”), a Global Leader in AI-Driven Earth Observation Data Analytics
Creates one of the largest space-based Geointelligence businesses in the worldExpands MDA Space global footprint with addition of 40 sites in 19 countriesVertically integrates upstream satellites and near-real time data
·Toronto, Canada
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Total News Sources14
Leaning Left5Leaning Right1Center6Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 42%
C 50%
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