January 17, 2020 | Local, Aerospace
Maxar announced it signed a definitive agreement to sell its Canadian business, MDA, to Northern Private Capital (NPC). You can read the details in our press release.
I would like to assure you that MDA is committed to continuously delivering the high-quality of service that our customers expect. Maxar and MDA will continue normal operations through the expected close of the transaction, which we believe will happen within 12 months, after the standard U.S. and Canadian regulatory approval.
After the close, the MDA team will operate as a private, stand-alone company within NPC's portfolio, retaining its name and standing as the leading space and defence company in Canada. MDA will remain an important business partner and supplier to Maxar, and Maxar will be MDA's largest customer. Additionally, the companies will continue to sell each other's complementary satellite data.
NPC is a Toronto-based investment firm led by John Risley and Andrew Lapham. It has created a Canadian investment fund to finance this transaction. NPC views Canada's renewed commitment to utilizing space for its civil and defence needs as a strong opportunity to bring MDA home to Canada. MDA will remain dedicated to its work for the Canadian government and as a merchant supplier to the international community.
Maxar's leadership team and Board of Directors believe this transaction best positions Maxar for growth in the future. Once closed, it will enable Maxar to reduce its debt load and focus on substantial growth opportunities in its core markets of Earth Intelligence and Space Infrastructure. And likewise, MDA will be able to focus on capturing large, Canadian programs in the future, in addition to addressing commercial and export markets.
February 29, 2024 | Local, Land
The Department of National Defence will reallocate $810 million in the coming budget as part of the Liberal government’s overall austerity drive, according to Federal Treasury Board documents tabled in the House of Commons on Thursday. Some of those savings are to be redirected into major equipment purchases.
December 1, 2022 | Local, Aerospace, Naval, Land, C4ISR, Security, Other Defence
December 1, 2022 – Ottawa, Ontario – National Defence / Canadian Armed Forces Anita Anand, Minister of National Defence, alongside Marie-Claude Bibeau, Minister of Agriculture and Agri-Food and Member of Parliament for Compton-Stanstead, and Élisabeth Brière, Member of Parliament for Sherbrooke, will provide an update on the future of the Colonel-Gaëtan-Côté Armoury (Belvédère Street Armoury) and William Street Armoury. What: Media are invited to attend the announcement on next steps for Primary Reserve infrastructure in Sherbrooke. When: 9 a.m. EST, December 2, 2022. Media are requested to arrive no later than 8:45 a.m. Where: Outdoors in front of the William Street Armoury at 315 William Street, Sherbrooke. https://www.canada.ca/en/department-national-defence/news/2022/12/minister-anand-to-announce-next-steps-for-national-defence-infrastructure-in-sherbrooke.html
August 16, 2021 | Local, Aerospace
Ottawa’s close ties to Washington often leads some to assume Canada does not need to spend on defence, instead relying on the U.S. to defend Canada’s ...