MDA buys SS/L
An agreement has been reached for the purchase of a satellites provider.
MacDonald, Dettwiler and Associates (MDA) has announced it has come to an agreement to acquire Space Systems/Loral (SS/L).
Merger and acquisition consultants may have been on hand as the terms of the deal were confirmed, with the company due to acquire 100 per cent of the commercial communications satellites provider.
Daniel Friedmann, president and chief at MDA, said the takeover is a "game changer" for his firm.
"With one move, we are bringing together two market leaders to create a unique global communications and information company with a strong commercial focus," he explained.
MDA's current aim is to expand and take a stronger foothold in the US market - something it believes the acquisition of SS/L will help it to achieve.
Last month, Space Systems/Loral made an important announcement, stating the SES 5 satellite had finally arrived at the Baikonur Space Center in Kazakhstan. It was the third satellite the company had delivered there in nine months.
Posted by Ron Maverick
MDA press release, June 27th