.jpg)
1 hour ago
3
Article content
(Bloomberg) — Canada’s MDA Space Ltd. will acquire Blue Canyon Technologies LLC in an all-cash, $620 million transaction, allowing it to bid for classified work in the US.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Blue Canyon Technologies is a spacecraft and satellite component manufacturer based in Colorado, currently owned by aerospace and defense firm RTX Corp. The firm has a security clearance that allows MDA to begin pursuing classified work, Chief Executive Officer Mike Greenley told analysts Friday.
Article content
Article content
Most of Blue Canyon’s $3.5 billion opportunity pipeline, and about 75% of its revenue, is defense-related, he said.
Article content
Article content
“With the United States being the largest available defense market in the world, it creates a larger opportunity for us to support the US government and their defense interests,” Greenley said in an interview.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
MDA shares were up 4% in Toronto to C$57.95 as of 10:41 a.m.
Article content
The move comes three months after MDA Space raised $300 million in its US initial public offering, which Greenley said at the time would be used to fund merger opportunities and pay down debt.
Article content
MDA’s business is about 70% commercial and 30% government, with the latter increasing as more defense opportunities arise, he said.
Article content
Friday’s deal, which is fully financed by senior secured debt, is expected to close by the end of the year and boost MDA’s adjusted earnings in 2027. Founded in 2008, Blue Canyon employs more than 400 people and runs two manufacturing facilities in Denver.
Article content
MDA continues to pursue acquisitions in the US, with Greenley pointing to Europe as another key market. “We do have a strong shortlist of candidates in both of those regions,” he told analysts.
Article content
MDA’s previous acquisition of satellite communications firm SatixFy Communications Ltd. closed in July 2025.
Article content
English (US)