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.
