MDA Space Acquires Blue Canyon Technologies for $620 Million
MDA Space will acquire Blue Canyon Technologies for $620 million, enhancing its U.S. defense market capabilities. This acquisition is projected to add $3.5 billion to MDA's opportunity pipeline and is expected to positively impact adjusted EBITDA and earnings per share in 2027.
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MDA Space Ltd. is set to acquire Blue Canyon Technologies for $620 million in cash, with the deal anticipated to close by the end of 2026, pending regulatory approvals. Blue Canyon, established in 2008 and acquired by RTX in 2020, specializes in small satellites and spacecraft systems, and its addition is expected to significantly bolster MDA's presence in the U.S. defense sector.
The acquisition will be financed through senior secured debt, and MDA aims to maintain its leverage within a target range of 1.5x to 2.5x net debt to EBITDA. The move highlights increasing competition in the defense space market as demand for satellite services grows.
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