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MDA Acquires Loral Space Satellite Unit

28 Jun 2012, 08:19 UTC
MDA Acquires Loral Space Satellite Unit
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MacDonald, Dettwile & Associates (MDA) has purchased Loral Space & Communications’ commercial satellite unit for $875 million, pending regulatory approval. The move gives the Canadian MDA an US base and transforms the company into a major player in commercial communications. “This is a game changing transaction for our Company,” said Daniel Friedmann, MDA’s president and [...]

MDA’s Canadarm flew for the first time on Space Shuttle mission STS-2, Nov. 1981 (Credits: NASA).
MacDonald, Dettwile & Associates (MDA) has purchased Loral Space & Communications’ commercial satellite unit for $875 million, pending regulatory approval. The move gives the Canadian MDA an US base and transforms the company into a major player in commercial communications.
“This is a game changing transaction for our Company,” said Daniel Friedmann, MDA’s president and CEO. “With one move, we are bringing together two market leaders to create a unique global communications and information company with a strong commercial focus. Post-acquisition, more than two-thirds of MDA’s total revenues will come from the commercial market.”
MDA is the responsible for Canadarm2, the robotic arm aboard the International Space Station. To-date its primary customer had been the Canadian government, which had blocked prior attempts to sell its satellite division to ...

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