Technicians put the final touches on the second of three Radarsat Constellation Mission satellites at the MDA facility on June 21, 2018 in Montreal. A Toronto-based investment firm has signed a $1-billion deal to buy the Canadian space technology company behind Radarsat Earth-observation satellites and the Canadarm robotic mechanisms on the International Space Station. THE CANADIAN PRESS/Ryan Remiorz

Technicians put the final touches on the second of three Radarsat Constellation Mission satellites at the MDA facility on June 21, 2018 in Montreal. A Toronto-based investment firm has signed a $1-billion deal to buy the Canadian space technology company behind Radarsat Earth-observation satellites and the Canadarm robotic mechanisms on the International Space Station. THE CANADIAN PRESS/Ryan Remiorz

Canadian group to repatriate Canadarm company in $1-billion deal with Maxar

The group sees significant growth potential for MDA under its new ownership.

A Toronto-based investment firm has signed a $1-billion deal to buy the Canadian space technology company behind Radarsat Earth-observation satellites and the Canadarm robotic mechanisms on the International Space Station.

A consortium led by Northern Private Capital with financial backing from former BlackBerry co-chief executive Jim Balsillie will acquire all Canadian and U.K. operations of the former MacDonald, Dettwiler and Associates.

The group says MDA’s corporate headquarters will return to Canada, where it employs more than 1,900 people.

MDA’s headquarters and largest operations had been in the Vancouver area until Maxar Technologies was created to allow MDA’s acquisition of Colorado-based DigitalGlobe, a producer of high-resolution Earth-imagery products.

The deal to repatriate MDA’s Canadian operations will be financed by a number of sources including NPC, which is led by John Risley and Andrew Lapham, as well as Balsillie and Senvest Capital, Scotiabank and Bank of Montreal.

The group sees significant growth potential for MDA under its new ownership.

“As a Canadian, I am so proud this iconic Canadian company will once again be owned and controlled in Canada,” Risley said in a statement.

Northern Private Capital says the acquisition of MDA is expected to close in 2020 following regulatory approvals.

VIDEO: Eagle feather from B.C. flew to space with Canadian astronaut

The Canadian Press


Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

The Okanagan’s first virtual wedding fair will be held Saturday, March 27. {Paul Rodgers photo)
Okanagan to host virtual wedding fair

Okanagan wine country is No. 1 destination for weddings - online event set for March 27

The Okanagan High Rim Trail officially opened in April 1994. Pictured are Western Canada Wilderness Committee volunteers Bruce Sumner and Jean Elmer. (Greater Vernon Museum and Archives photo #14932)
Vernon history in pictures

A look at the opening of a trail running from Vernon to Kelowna

Vernon Search and Rescue, with help from the Air Rescue One helicopter out of Wildcat Helicopters in Kelowna, and Central Okanagan Search and Rescue, were able to transport an injured snowmobiler to Vernon Regional Airport, where he was loaded into an ambulance and taken to Vernon Jubilee Hospital with a serious, painful back injury. (Facebook photo)
Okanagan helicopter rescue teams called to retrieve injured sledder at Greystokes

Vernon and Central Okanagan Search and Rescue help load injured man into waiting helicopter

Kerri and Kevin Black are highlighted for their volunteer work with the Carr's Landing Community and Recreation Association. (Contributed)
Lake Country couple’s passion to make a difference

Spotlight on Carr’s Landing Community and Recreation Association volunteers

A health worker holds a vial of AstraZeneca vaccine to be administered to members of the police at a COVID-19 vaccination center in Mainz, Germany, Thursday, Feb. 25, 2021. The federal state of Rhineland-Palatinate, start with the vaccination of police officers in internal police vaccination centers. (Andreas Arnold/dpa via AP)
B.C. officials to unveil new details of COVID vaccination plan Monday

Seniors and health-care workers who haven’t gotten their shot are next on the list

(Contributed)
Kelowna flight potentially exposed to COVID-19

Third case on a local flight this month, compared to 14 through January

An investigation is underway after a man was shot and killed by Tofino RCMP in Opitsaht. (Black Press Media file photo)
Man shot and killed by RCMP near Tofino, police watchdog investigating

Investigation underway by Independent Investigations Office of British Columbia.

B.C. Supreme Court in Vancouver on Tuesday December 11, 2018. THE CANADIAN PRESS/Darryl Dyck
B.C.’s compromise on in-person worship at three churches called ‘absolutely unacceptable’

Would allow outdoor services of 25 or less by Langley, Abbotsford and Chilliwack churches

Wills Hodgkinson, 10, and his mom Neeley Brimer get ready to battle round three of cancer. The community of Penticton has his back. (Submitted)
Community raises $21K to help Penticton boy battle third round of cancer

Okanoggin Barbers held the fundraiser on Saturday for 10-year-old Wills Hodgkinson

Baldy Mountain Resort was shut down on Saturday after a fatal workplace accident. (Baldy Mountain picture)
UPDATE: 70-year-old man killed in workplace accident at Baldy Mountain

The mountain closed on Saturday but has partially re-opened today (Sunday)

Jasmine and Gwen Donaldson are part of the CAT team working to reduce stigma for marginalized groups in Campbell River. Photo by Marc Kitteringham, Campbell River Mirror
Jasmine’s story: Stigma can be the hardest hurdle for those overcoming addiction

Recovering B.C. addict says welcome, connection and community key for rebuilding after drug habit

Chase RCMP held two men involved in drunken disturbances overnight in their detachment’s cells on Feb. 6. (File Photo)
Chase RCMP hold two men involved in drunken disturbances overnight

The two separate incidents took place less than an hour apart.

Most Read