MDA Space

MDA Space has opened a control center in St-Bruno-de-Montarville, Quebec, to operate the MDA CHORUS satellite constellation. The dual-band SAR constellation is scheduled to launch in late 2026 and enter commercial service in early 2027; it will offer C-band wide-area imagery and X-band high-resolution images with a swath of around 700 km and submeter spot resolutions. The system enables a “Tipping and Cueing” workflow, where C-band satellites perform broad-area scans and X-band satellites provide targeted high-resolution detail. » More on de.investing.com

MDA Space placed 23 million common shares in a bought deal at USD 35.60 each, raising approximately USD 819 million in gross proceeds to finance the announced acquisition of around 70% of Collecte Localisation Satellites (CLS). The syndicate banks were granted an over-allotment option for up to 15% of the shares, exercisable within 30 days. The share is currently trading below the issue price, and according to InvestingPro MDA has a market capitalization of about USD 5.12 billion and twelve-month revenue growth of 43%. » More on de.investing.com

MDA Space acquires around 70% of the shares in CLS for about €567 million ($920 million); the French space agency CNES will then hold around 30%. CLS expects revenue of about €286 million in 2026 and brings 1,200 employees and 14,000 customers in roughly 150 countries. MDA expects the transaction to be accretive to adjusted EBITDA and adjusted earnings per share in the first year and to double recurring revenues. Closing is subject to regulatory approvals and employee consultations and is expected by end‑2026/early‑2027; MDA has secured financing commitments from several banks. » More on de.investing.com