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business2 years ago•2 min saved

SatixFy sells satellite payload subsidiary to MDA in $60 million deal

SatixFy, an Israeli satcoms equipment maker, is selling its satellite payload subsidiary, SatixFy Space Systems UK Ltd, to Canadian space hardware specialist MDA in a $60 million strategic transaction. MDA will acquire SatixFy's digital beam-forming antennas and onboard processors, expanding its next-generation satellite capabilities. The deal comes after MDA won a $1.6 billion contract to build LEO satellites for Telesat. As part of the agreement, MDA will also make $20 million in advanced payments for chips used in satellites and ground systems. The transaction is expected to close by the end of the year, pending regulatory and shareholder approvals.

via SpaceNews|

#business #leo-satellites #mda

business2 years ago•1 min saved

Telesat's Supplier Swap Saves $2 Billion, Stock Surges 50%

Telesat, a Canadian telecommunications satellite operator, experienced a surge in stock prices after announcing a supplier swap for its Lightspeed global internet network. Canadian space company MDA will now build the Lightspeed satellites, resulting in approximately $2 billion in cost savings. Telesat plans to launch the first satellites in mid-2026, with global service commencing once 156 satellites are in orbit. The company's focus remains on enterprise customers, distinguishing itself from competitors like SpaceX's Starlink and Amazon's Kuiper. Telesat also reported second-quarter results, including a decrease in revenue but a significant increase in net income due to a payment from the FCC for clearing spectrum for 5G use in the U.S.

via CNBC|

#business #cost-savings #mda