Key facts
- MDA Space will acquire Blue Canyon Technologies for $620 million.
- Blue Canyon Technologies designs and builds small satellites and spacecraft.
- The acquisition aims to expand MDA Space's footprint in the U.S. defense space market.
- The deal is expected to close by the end of 2026.
- Blue Canyon Technologies has over 400 employees and two facilities in Denver, Colorado.
Canadian space technology firm MDA Space announced on Friday 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, a sector seeing increased government spending on defense and space programs.
Blue Canyon Technologies, founded in 2008 and acquired by RTX in 2020, specializes in designing and building small satellites, spacecraft buses, and mission systems for commercial, civil, and defense clients. The acquisition will bring Blue Canyon's spacecraft manufacturing capabilities, its two facilities in Denver, Colorado, and over 400 employees into MDA Space's operations.
The deal is projected to add approximately $3.5 billion to MDA Space's opportunity pipeline and is expected to 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.