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MDA Space Buys Blue Canyon for $620M

19 Jun

Summary

MDA Space is acquiring Blue Canyon Technologies for $620 million.
The acquisition aims to expand MDA Space's U.S. defense space market.
The deal is expected to conclude by the end of 2026.

MDA Space, a Canadian space technology company, has announced its intention to purchase Blue Canyon Technologies from RTX's Raytheon business for $620 million. This cash transaction is designed to strengthen MDA Space's foothold within the United States defense space sector. The acquisition is slated for completion by the close of 2026, contingent upon obtaining necessary regulatory approvals and satisfying customary closing conditions.

Blue Canyon Technologies, founded in 2008 and based in Colorado, specializes in the design and construction of small satellites and spacecraft buses. The acquisition will integrate Blue Canyon's manufacturing facilities in Denver, Colorado, and its workforce of over 400 employees into MDA Space's operations. This move is expected to contribute approximately $3.5 billion to MDA Space's opportunity pipeline, with projections indicating positive impacts on adjusted EBITDA and earnings per share by 2027.

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