Canada’s MDA Space to buy Israeli satcom co SatixFy

Canadian company MDA Space (TSX: MDA) has announced that it is getting an Israeli satellite telecommunications developer Satixfy communications In the company's evaluation of $ 193 million. The price of Satixfy in the deal is $ 2.10, and it is 75 % bonus on the company's price on NASDAQ at the end of the trading yesterday and 52 % of the average share price during the past month. On the Nasdaq Stock Exchange today, the Satixfy share price is currently 65.5 %.

The deal is cash, and the buyer will also take on Satixfy debts of $ 76 million, so that the acquisition is generally $ 269 million, although the maximum company market in the past was much higher.

Companies say that the deal will be closed in the third quarter of 2025, taking into account organizational approvals and approvals by shareholders. Satixfy says that shareholders in 57 % of his shares have already agreed to the deal. The agreement includes a 45 -day skipping period, and during that time Satixfy is allowed to seek, evaluate and evaluate negotiations with third parties that express the company's interest.

Satixfy has developed chips and technology of satellite communications and has been managed since 2023 by CEO Nir Barkan. The company was founded in 2012 by the late Yoel Gat and Yoel Leibovitch. In 2022, Satixfy was inserted on the Nasdaq Stock Exchange after the space was integrated with the evaluation of the company of $ 365 million. As in most Spac mergers, the share price decreased sharply, and at the end of trading yesterday, the maximum market reached $ 102 million.

The MDA Space was a major partner for Satixfy with contracts worth tens of millions of dollars. MDA provides technological solutions to the space industry and has previously acquired a SATIXFY company for $ 40 million.

Satixfy has not published its entire 2024 financial results. In the first three quarters of the year 2024, the company reached revenues of $ 8.5 million, a decrease of $ 8.9 million in the corresponding period of 2023, due to the decrease in development and services revenues, which were compensated with a jump in product sales. The net loss narrowed 42.5 % in the first nine months from 2024 to $ 34.5 million.

“A large milestone in the trip”

Barkan said: “Satixfy is constantly aimed at revolutionizing the market through solutions based on digital chips with the creation of a world leading space technology company. Joining MDA Space represents a great milestone in that trip. This deal is a testimony of innovation and dedication in our employees over the past decade. It will provide size, resources, and stability necessary to continue to provide our primary solutions.

Barkan told “Globes” that the deal is part of important unification operations that the market is subject. Satixfy says it brings a very important unique solution to prominent players in this field, and now it will become part of a large organization with a wide range in the space industry.

“With this acquisition, the MDA Space takes the next logical step to increase our technical differentiation with global market transfers from digital satellite technology. Integrated and distinctive digital satellite solutions,” said Mike Greenley, CEO of MDA Space.

Citi works as an exclusive financial advisor for MDA Space and Norton Rose Fulbright Canada LLP as a legal advisor for MDA Space. TD Cowen works as an exclusive financial advisor for Satixfy and Goldfarb Gross Seligman & Co. Sullivan & Worcester LLP as a legal advisor for Satixfy.

It was published by Globes, Israel Business News – En.globes.co.il – on April 1, 2025.

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