MDA Space to acquire Blue Canyon Technologies for $620 million

Key facts

• MDA Space is acquiring Blue Canyon Technologies for $620 million in cash.
• The acquisition expands MDA Space's footprint in the U.S. defense space market.
• Blue Canyon Technologies designs and builds small satellites and spacecraft systems.
• The deal is expected to close by the end of 2026, pending regulatory approvals.
• The acquisition is expected to add approximately $3.5 billion to MDA Space's opportunity pipeline.

Canadian space technology firm MDA Space announced it will acquire U.S.-based Blue Canyon Technologies from RTX's Raytheon business for $620 million in cash. This move is intended to expand MDA Space's presence in the U.S. defense space market and enable it to pursue classified projects. Blue Canyon, founded in 2008 and acquired by RTX in 2020, designs and builds small satellites, spacecraft buses, and mission systems. The deal includes Blue Canyon's two facilities in Denver, Colorado, and over 400 employees. MDA Space stated the acquisition is expected to add approximately $3.5 billion to its opportunity pipeline and be accretive to adjusted EBITDA and adjusted earnings per share in 2027. The transaction is anticipated to close by the end of 2026, subject to regulatory approvals and customary closing conditions.