Overview
- MDA announced July 8 that it will acquire a 70% stake in Collecte Localisation Satellites (CLS) for about $920 million in cash, with France’s space agency CNES retaining the remaining 30%.
- To help fund the deal, MDA is issuing 20 million common shares at US$35.60 in a bought‑deal underwriting that the company says is expected to close around July 14.
- CLS, founded in 1986 and based in Toulouse, employs about 1,200 people, operates in roughly 150 countries and is projected to generate about $465 million in revenue in 2026.
- The transaction is conditional on regulatory approvals and mandatory consultations with CLS employee representative bodies under French law, and the companies target completion by the end of 2026 or early 2027.
- MDA says the deal will link its satellite and manufacturing capabilities with CLS’s data analytics to form an AI‑driven geospatial services platform, increasing recurring revenue and expanding the company’s global market reach.