BRAMPTON, Ontario - Canadian space technology company MDA Space Ltd. announced that it has entered into an agreement to acquire Israeli satellite communications firm SatixFy Communications Ltd. in an all-cash deal valued at approximately $193 million.
MDA Space, a provider of satellite systems and space technology in Brampton, Ontario, said the acquisition will strengthen its capabilities in next-generation digital satellite communications as demand for advanced broadband, direct-to-device connectivity, and Internet of Things services grows globally.
"With this acquisition, MDA Space is taking a logical next step to further reinforce our technical differentiation as the global market transitions from analog to digital satellite technology," said Mike Greenley, Chief Executive Officer of MDA Space. "Bringing these two highly skilled teams together adds complementary expertise and technology that will allow us to further enhance our value proposition for current and future customers by providing vertically integrated and differentiated digital satellite solutions."
Related: MDA Space joins Starlab Space as partner in commercial space station venture
SatixFy background
Founded in 2012, SatixFy, located in Rehovot, Israel, designs and manufactures semiconductors and systems for satellite communications, including chips, antennas, gateways, user terminals, and modems. The company has invested approximately $270 million in research and development and holds a portfolio of over 60 patents, either issued or pending. SatixFy employs around 165 people worldwide.
"SatixFy has consistently aimed to revolutionize the market with digital chip-based solutions while establishing a world-leading space technology company," said Nir Barkan, Chief Executive Officer of SatixFy. "Joining MDA Space marks a significant milestone in that journey. This transaction is a testament to the innovation and dedication of our employees over the past decade."
MDA Space stated that the acquisition aligns with its strategy to expand offerings in low Earth orbit (LEO) and medium Earth orbit (MEO) satellite systems. The company intends to integrate SatixFy’s chip technology with its own satellite platforms, including the MDA AURORA system, to provide end-to-end digital communications solutions.
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