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Northern Private Capital announced it has signed a definitive agreement to acquire MDA from Maxar Technologies for C$1 billion.

A consortium led by investment firm Northern Private Capital announced today it has signed a definitive agreement to acquire MDA from Maxar Technologies (NYSE:MAXR,TSX:MAXR) for C$1 billion.

As quoted in the press release:

Upon closing, MDA’s corporate headquarters will return to Canada.

Founded in 1969, MDA is Canada’s largest space technology developer and manufacturer, with over 1,900 employees across Canada. Through a strong collaboration and partnership with the Government of Canada that spans several decades, the company has delivered world-leading, iconic technologies such as the Canadarm family of space robotics for the U.S. Space Shuttle program and the International Space Station and three generations of RADARSAT Earth observation satellites for the Canadian government.

Under the terms of the agreement, the NPC-led consortium will acquire all of MDA’s operations across Canada and the UK. The transaction is not subject to any shareholder approvals and is expected to close in 2020 following receipt of regulatory approvals.

Click here to read the full press release.

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