MDA Space announces definitive agreement to acquire US-based Blue Canyon Technologies LLC

Executive Summary

• MDA Space has signed a definitive agreement to acquire 100% of Blue Canyon Technologies LLC (BCT) in an all-cash transaction valued at US$620 million (approx. C$874 million) in purchase price and enterprise value.
• The acquisition adds a profitable, cash-generating spacecraft and satellite component manufacturer with an 18-year history, 85+ launched spacecraft, 3,500+ products on orbit, and a US$3.5B (approx. C$4.9B) opportunity pipeline.
• The transaction is expected to close by the end of 2026, subject to regulatory approvals, and is fully financed at signing through senior secured debt, with expected accretion to Adjusted EBITDA and Adjusted EPS in 2027.

Key Details

• Transaction Structure: All-cash acquisition of 100% of membership interests in Blue Canyon Technologies LLC.
• Purchase Price & Enterprise Value: US$620 million (approximately C$874 million), subject to purchase price adjustments.
• Target Profile: BCT is currently part of RTX's Raytheon business, founded in 2008, with an 18-year operational history.
• Operational Footprint & Heritage: 85+ spacecraft launched, 3,500+ products on orbit, 400+ highly skilled employees, and two manufacturing facilities located in Denver, Colorado.
• Strategic Rationale: Expands total addressable market, positions MDA Space to pursue substantial US defence market opportunities, adds complementary technology and customer base, and secures key talent and manufacturing capabilities in a major space & aerospace hub.
• Financial Impact & Projections: Expected to be accretive to Adjusted EBITDA and Adjusted EPS in 2027. Expected 2026 pro forma leverage will fall within the stated target range of 1.5x to 2.5x net debt to last twelve months adjusted EBITDA.
• Financing: Fully committed and financed at signing through senior secured debt. Management will evaluate opportunities to optimize capital structure over time based on market conditions and capital deployment priorities.
• Closing Conditions & Timeline: Expected to close by the end of 2026, subject to customary closing conditions and required regulatory approvals.
• Investor Event: Conference call and webcast scheduled for Friday, June 19, 2026, at 8:30 a.m. ET, with dial-in numbers and a live webcast available via the MDA Space Investor Relations website.

Notable Quotes

• Mike Greenley, CEO of MDA Space: "The acquisition of Blue Canyon Technologies is expected to accelerate our growth strategy by increasing our US market opportunities with highly complementary capabilities, local manufacturing footprint and a skilled and specialized talent base. Securing those strategic benefits on an accretive basis with a profitable and cash-generating business makes this an ideal fit for MDA Space expansion and continued shareholder value creation."