SatixFy soars after MDA Space's deal to buy satellite chipmaker

MDA Space

01/04/2025 15:00

** Shares of satellite chipmaker SatixFy Communications SATX.A rise 65% to $1.98

** SATX to be acquired by Canada-based space firm MDA Space MDA.TO for $2.10/shr in an all-cash transaction, a 75% premium to SATX's last close, cos say

** Deal values SATX at about $193 million in equity value

** Deal expected to close in Q3 2025

** Acquisition aims to enhance MDA Space's end-to-end satellite systems as demand grows

** Deal expected to be accretive to MDA Space's earnings by 2027

** Including session move, SATX up 29.7% YTD

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))