Canadian space technology group MacDonald, Dettwiler and Associates (MDA) has acquired an unnamed business that specialises in radar and other information sensors used for national security purposes.
While the terms and value of the agreement have not…
Canadian space technology group MacDonald, Dettwiler and Associates (MDA) has acquired an unnamed business that specialises in radar and other information sensors used for national security purposes.
While the terms and value of the agreement have not been disclosed, MDA did state that the business has approximately 170 employees and generates annual revenues of around US$40m.
The acquisition was made through the group’s MDA Information Systems subsidiary and is intended to significantly strengthen its ability to pursue future surveillance and intelligence programmes in the US.
Daniel Friedmann, MDA’s CEO, commented: “One of our long-term strategic objectives is to expand our presence in the US surveillance market, and in particular, to increase our radar information and systems related business.
“We believe that the unique radar information processing capability we are adding through this acquisition, together with SSL’s large space program capability, provide us with a strong platform to pursue this objective.”
The transaction is subject to customary closing conditions, as well as approval by the Committee on Foreign Investment in the United States (CFIUS). MDA expects the transaction to be completed in 2014.
