MDA Space has signed a definitive agreement to acquire 100% of the membership interests of Blue Canyon Technologies in an all-cash transaction for a purchase price and enterprise value of $620 million.
Blue Canyon Technologies (BCT) is a spacecraft and satellite component manufacturer and mission services provider, currently part of RTX's Raytheon business.
With more than 85 spacecraft launched and more than 3,500 products on orbit, BCT has established flight heritage and mission success since the company was founded in 2008. Once completed, the transaction is expected to provide MDA Space with a strategic business and manufacturing footprint to capitalize on growing demand in the U.S. government market for defense space missions. With more than 400 employees and two manufacturing facilities in the Denver, Colorado space and aerospace hub, BCT offers a diverse and innovative product portfolio that enables a broad range of missions for the space economy.
"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," said Mike Greenley, CEO of MDA Space, in a statement. "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."
