MDA Space (MDA) to acquire Blue Canyon Technologies in US$620 million cash deal
Rhea-AI Filing Summary
MDA Space Ltd. has signed a definitive agreement to acquire 100% of Blue Canyon Technologies LLC in an all-cash deal valuing the business at an enterprise value of US$620 million (approximately C$874 million), subject to adjustments. Blue Canyon is a profitable US spacecraft and satellite component supplier with more than 85 spacecraft launched, over 3,500 products on orbit, and about 400 employees across two Denver, Colorado facilities.
The acquisition is intended to expand MDA Space’s addressable market and strengthen its position in the US defence space market. Management expects the transaction to be accretive to Adjusted EBITDA and Adjusted EPS in 2027 and to add approximately US$3.5 billion (about C$4.9 billion) to the company’s opportunity pipeline. The deal is fully financed at signing through senior secured debt, with closing targeted by the end of 2026, and is expected to result in 2026 pro forma leverage within MDA Space’s 1.5x–2.5x net debt to last twelve months adjusted EBITDA target range.
Positive
- Strategic US expansion with profitable target: MDA Space is acquiring Blue Canyon Technologies for US$620 million in cash, adding a profitable, cash-generating US spacecraft and components business expected to be accretive to Adjusted EBITDA and Adjusted EPS in 2027 and to expand its US defence market reach.
Negative
- None.
Insights
MDA Space is making a sizable, debt-funded US acquisition expected to boost growth and earnings from 2027.
MDA Space plans to acquire Blue Canyon Technologies for US$620 million in cash, adding a profitable US small-satellite and components platform with more than 85 spacecraft launched and US$3.5B added to its opportunity pipeline. This significantly deepens exposure to US government and defence space programs.
The company states the deal should be accretive to Adjusted EBITDA and Adjusted EPS in 2027, suggesting earnings contribution after integration. The acquisition is fully financed with senior secured debt and is expected to leave pro forma leverage within the stated 1.5x–2.5x net debt to last twelve months adjusted EBITDA range.
Closing is targeted by the end of 2026, subject to regulatory and other customary approvals, so timing and conditions remain key execution factors. Future disclosures from MDA Space on integration progress, realized synergies and leverage trends will further clarify the long-term impact of this transaction.
Key Figures
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
| For the month of | June | 2026 | |
| Commission File Number | 001-43190 |
| MDA SPACE LTD. |
| (Translation of registrant’s name into English) |
|
7500 Financial Drive Brampton, Ontario, Canada L6Y 6K7 |
| (Address of principal executive offices) |
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ¨ Form 40-F x
DOCUMENTS INCLUDED AS PART OF THIS REPORT
| Exhibit | ||
| 99.1 | Press Release dated June 19, 2026 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| MDA Space Ltd. | |||||
| (Registrant) | |||||
| Date: | June 22, 2026 | By: | /s/ Guillaume Lavoie | ||
| Name: | Guillaume Lavoie | ||||
| Title: | Chief Financial Officer | ||||
Exhibit 99.1
NEWS RELEASE
MDA Space announces definitive agreement to acquire US-based Blue Canyon Technologies LLC
| · | Expands Total Addressable Market for MDA Space |
| · | Positions company to further pursue substantial US defence market opportunities |
| · | Adds a profitable, cash-generating business with 18-year history |
| · | Transaction expected to be accretive to Adjusted EBITDA1 and Adjusted EPS1 in 2027 |
| · | Adds high-quality spacecraft and satellite component supplier business and US$3.5B (approx. C$4.9B) to pipeline |
| · | Complementary technology and customer set |
| · | Adds key talent & manufacturing facilities in Denver, Colorado space & aerospace hub |
TORONTO, ON (June 19, 2026) – MDA Space Ltd. (TSX:MDA) (NYSE:MDA) (the “Company”), a trusted mission partner to the rapidly expanding global space industry, has signed a definitive agreement to acquire 100% of the membership interests of Blue Canyon Technologies LLC in an all-cash transaction for a purchase price and enterprise value of US$620 million (approximately C$874 million), subject to purchase price adjustments. 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 3,500+ products on orbit, BCT has established impressive 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 US government market for defence space missions. With over 400 highly skilled 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. “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.”
Transaction Details
The transaction will add a profitable, cash-generating business that is expected to be accretive to Adjusted EBITDA and Adjusted EPS in 2027. With an 18-year history, BCT is a high-quality spacecraft and satellite component supplier that will add US$3.5B (approximately C$4.9B) to our opportunity pipeline. The transaction is expected to close by the end of 2026, subject to customary closing conditions and required regulatory approvals, and is fully committed and financed at signing through senior secured debt. As part of our ongoing capital allocation framework, we will evaluate opportunities to optimize our capital structure over time, subject to market conditions and broader capital deployment priorities. This transaction is expected to result in 2026 pro forma leverage within our stated target range of 1.5x to 2.5x net debt to last twelve months adjusted EBITDA.
1 Non-IFRS measure
Conference Call
MDA Space will host a conference call and webcast to discuss the transaction on Friday, June 19, 2026 at 8:30 a.m. ET. Interested parties can join the call by dialing 1-416-945-7677 (Toronto area) or 1-888-699-1199 (toll-free North America) or +44-800-279-7040 (toll-free United Kingdom) and entering the conference ID 30111. A live webcast of the conference call and an accompanying slide presentation will be available at https://mda-en.investorroom.com/events-presentations.
A replay of the webcast will be archived on the MDA Space Investor Relations website following the call. Parties may also access a recording of the call, which will be available until June 26, 2026, by dialing 1-888-660-6345 and entering the passcode 30111#.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the company’s current expectations regarding future events. Such forward-looking information includes, but is not limited to, information with respect to the Company’s objectives and strategies to achieve these objectives, as well as information with respect to the Company’s beliefs, plans, expectations, anticipations, estimates, intentions and views of future events, including statements regarding the proposed acquisition, the anticipated timing for the closing of the acquisition, the anticipated benefits, synergies and growth opportunities expected to result from the acquisition, and any projected, estimated or forecasted financial information presented in connection therewith. There can be no assurance that: (i) the acquisition will be completed on the anticipated timeline, or at all, and the closing of the acquisition may be delayed or may not occur within the anticipated timeframe or at all; (ii) the conditions to the closing of the acquisition will be satisfied, including the receipt of all required regulatory, governmental and third-party approvals, and the failure to obtain any such approvals or satisfy any such conditions could delay or prevent the closing of the acquisition; (iii) any projected, estimated or forecasted financial information presented in connection with the acquisition will be achieved, as such projections are based on assumptions that may prove to be incorrect, and actual results may differ materially from those projected, estimated or forecasted; and (iv) the anticipated strategic benefits, growth opportunities and synergies described in connection with the acquisition will be realized as expected, or at all, as such benefits may take longer to realize than anticipated, may be more costly to achieve than expected, or may not be realized at all.
All forward-looking statements are based on assumptions and analyses made by MDA Space in light of management’s experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties and other factors which may cause the actual results, performance or achievements of MDA Space to differ materially from those anticipated in such forward-looking statements for a variety of reasons, including without limitation the risk that the acquisition will not be completed on the anticipated timeline or at all, the risk that conditions to the closing of the acquisition will not be satisfied, including the receipt of all required regulatory, governmental and third-party approvals, and the risks and uncertainties detailed under the “Risk Factors” section of MDA Space’s annual information form dated March 4, 2026. Although MDA Space believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect and there can be no assurance that actual results will be consistent with the forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements or information included within this press release. These forward-looking statements speak only as of the date of this news release. Except as required by law, MDA Space is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
ABOUT MDA SPACE
Building the space between proven and possible, MDA Space (TSX:MDA) (NYSE:MDA) is a trusted mission partner to the global defence and space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 4,000 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission — bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that’s been in our DNA since day one. For those who dream big and push boundaries on the ground and in the stars to change the world for the better, we’ll take you there. For more information, visit mda.space.
MEDIA CONTACT
Amy MacLeod
Vice President, Corporate Communications
613-796-6937
amy.macleod@mda.space
INVESTOR CONTACT
Jim Floros
Vice President, Investor Relations
289-914-0209
jim.floros@mda.space
SOCIAL MEDIA
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