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4h ago

MDA Space to Buy Blue Canyon Technologies for $620 Million

MDA says the purchase will secure U.S. manufacturing plus defense-market access pending CFIUS and other regulatory approvals.

DARPA selected the Blue Canyon Technologies X-SAT Saturn bus for the Blackjack program. Credit: Raytheon Technologies
MDA Space Inc. CEO Mike Greenley addresses a news conference in Montreal on Thursday, Feb. 18, 2021. THE CANADIAN PRESS/Paul Chiasson
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MDA Space is paying $620 million for Blue Canyon Technologies, a deal it says will add $3.5 billion to its opportunity pipeline.

Overview

  • MDA Space signed a definitive agreement to acquire Blue Canyon Technologies from RTX for US$620 million in cash, a deal disclosed on Friday, June 19, 2026 and financed at signing with committed senior secured debt.
  • The acquisition brings more than 400 employees, two manufacturing facilities in Denver, and flight-proven smallsat hardware with 85+ launches and 3,500+ products on orbit into MDA’s operations.
  • MDA forecasts the deal will be accretive to adjusted EBITDA and adjusted EPS in 2027 and says Blue Canyon is cash-flow positive with projected 2026 revenue of about US$160 million.
  • Closing is expected by the end of 2026 but remains conditional on customary closing steps and regulatory approvals, notably a CFIUS review that will determine MDA’s ability to pursue classified U.S. work.
  • The purchase is positioned to add roughly US$3.5 billion to MDA’s opportunity pipeline and deepen its U.S. defense foothold while raising integration and execution risks tied to approvals, cultural alignment, and post-close capital structure decisions.