Westminster-based geospatial services provider DigitalGlobe is being acquired by Canadian communications company MacDonald, Dettwiler and Associates Ltd. (MDA) for $2.4 billion, the companies announced today.
The deal, carried out in cash and stock, will combine both companies’ space-related capabilities, including satellites, robotics, data analytics and communications.
“Today’s announcement creates a new company that will lead the industry, offering space systems and imaging solutions from inception to execution, able to make design decisions with our customer’s needs in mind,” Howard L. Lance, president and CEO of MDA, said in a statement. “This combination has the scale, resources and technology to serve the large and increasingly complex needs of government and commercial customers globally. By combining MDA and DigitalGlobe, we are significantly expanding our total addressable market by broadening both companies’ capabilities and facilitating future growth.”
Lance will remain CEO of the combined company, and three of DigitalGlobe’s current directors will join MDA’s board. Though the companies are merging, DigitalGlobe will stay in Colorado, retaining its name, brand and headquarters. Combined, the company will have nearly 4,600 employees in the U.S. and 1,800 in Canada.
Image via DigitalGlobe.
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