MDA Renamed Maxar Technologies after Acquisition of DigitalGlobe
MacDonald, Dettwiler and Associates "MDA" has completed its acquisition of DigitalGlobe, the global leader in high resolution Earth imagery and information about our changing planet. The merger creates the leading integrated commercial provider of satellites, imagery and geospatial solutions to commercial and government customers worldwide. The newly combined company will offer a broader set of space-based solutions, increased scale and a more diversified revenue base.
"Today is a very exciting day for our customers, partners, employees and shareholders," said Howard L. Lance, president and chief executive officer of MDA. "Together, in partnership with the outstanding team at DigitalGlobe, our combined company will offer an unmatched suite of solutions, benefit from increased scale and a more diversified revenue base, and drive increased value by leveraging the sales channels of both companies. The combination of our strong, diversified core businesses will create expanded opportunities for team members and customers alike. I am very excited to get to work with the new leadership team to drive top and bottom line growth and future success."
NEW CORPORATE NAME
The Company also announced today that MacDonald, Dettwiler and Associates Ltd. (MDA) will become Maxar Technologies Ltd., and its U.S.-headquartered operating company, SSL MDA Holdings, Inc., will become Maxar Technologies Holdings Inc. The new Maxar Technologies launches a distinctive group of leading space brands, technologies and capabilities.
"Our new corporate name highlights the broader capabilities of the combined organization," said Mr. Lance. "Maxar Technologies encompasses four of the leading commercial space technology brands—SSL, MDA, DigitalGlobe and Radiant—and represents the expanded benefits and value we will offer to our customers, shareholders, partners and employees." The Company plans to continue to use the individual business unit brands and will roll out the new corporate branding design elements by the end of 2017.
MDA undertook a major corporate reorganization in May 2016 as part of its "U.S. Access Plan" strategy, including the appointment of Mr. Lance and the formation of SSL MDA Holdings, Inc., with its headquarters in San Francisco, which manages and controls all of the Company's operations across Canada, the U.S. and internationally. This process was completed under the guidance and approval of the U.S. Department of Defense, whereby SSL MDA Holdings operates under a Security Control Agreement. This structure allows the Company to pursue and execute U.S. government programs that require security clearances.
The Company will begin trading today on the New York Stock Exchange under the ticker symbol "MDA." However, the Company's ticker symbol on both the New York and Toronto Stock Exchanges will be changed next week to "MAXR" to reflect the Company's new name as Maxar Technologies. In addition, as announced at the time of the proposed merger, the Company has committed to further reorganize all or part of the combined company's corporate and operating structure to ensure the ultimate parent of DigitalGlobe is incorporated in the U.S. by the end of 2019, subject to customary approvals.
A PORTFOLIO OF BEST-IN-CLASS BRANDS
Maxar Technologies is uniquely positioned to capture growth in the U.S., Canada and global markets given its ability to provide advanced satellites and space systems, high resolution Earth imagery and geospatial solutions. With the addition of DigitalGlobe and Radiant Solutions, the Maxar Technologies portfolio of best-in-class brands offers a full suite of end-to-end solutions capabilities with deep domain expertise and space heritage.
SSL: the leading commercial provider of communications and Earth observation satellites and scientific mission spacecraft for commercial and government markets;
MDA: an internationally recognized leader in space robotics, satellite antennas and subsystems, surveillance and intelligence systems, defense and maritime systems and geospatial radar imagery;
DigitalGlobe: the global leader in high resolution optical satellite imagery and information about our changing planet; and
Radiant: a highly specialized provider of geospatial data, analytics, software and services to facilitate insights and intelligence where and when it matters most.
COMBINED GEOSPATIAL AND ANALYTIC CAPABILITIES
MDA Information Systems, based in Gaithersburg, Maryland, and DigitalGlobe l Radiant, based in Herndon, Virginia, have been combined into a new business unit called Radiant Solutions. Radiant is focused on providing advanced geospatial data collection and analytics capabilities to offer enhanced support to the U.S. Department of Defense and Intelligence Community, along with international government and commercial customers. With over 1,000 cleared spacecraft and sensor engineers, developers, geospatial analysts, data scientists and image scientists, Radiant Solutions will be able to deliver innovative solutions across the entire geospatial intelligence value chain with smart tasking, multi-intelligence collection, automated information extraction, pattern discovery and change detection.
Mr. Lance will lead the combined company as president and chief executive officer. Mr. Lance's extensive experience in the global aerospace, defense and security markets will position the combined company to capture growing demand for end-to-end space systems solutions. The Company's senior leadership team will be comprised of executives from both MDA and DigitalGlobe.
William McCombe has been appointed chief financial officer of Maxar Technologies. Anil Wirasekara, who previously served as Chief Financial Officer of MDA since 1994, will continue with the Company and serve as the senior financial executive, based in Canada. Mr. Wirasekara will continue to report to Mr. Lance, with a significant portfolio of executive responsibilities.