- SatixFy Communications Ltd. announces a $60 million transaction with MDA Ltd., involving a share purchase agreement and new commercial agreements.
- The deal aims to leverage SatixFy’s cutting-edge digital payload chip technology in MDA’s digital satellite payloads, potentially opening up new markets and customer bases for both companies.
August 31, 2023, Rehovot, Israel — In a landmark agreement that could redefine the future of satellite communications, SatixFy Communications Ltd., a leader in next-generation satellite communication systems, has announced a $60 million strategic transaction with MDA Ltd., a global leader in advanced technology and services for the space industry.
A Strategic Collaboration
The transaction is a complex blend of a $40 million share purchase agreement and an additional $20 million in advanced payments under new commercial agreements. Specifically, MDA will acquire SatixFy’s holdings in its UK-based subsidiary, SatixFy Space Systems, which specializes in the development of digital satellite payload systems and subsystems. SatixFy, however, will retain all its related ASIC intellectual property and continue to develop new chips to support the growing market for digital satellite payloads.
Pioneering Technology for a New Era
The collaboration aims to utilize SatixFy’s revolutionary digital payload chip technology in MDA’s advanced digital satellite payloads. Both companies believe their combined expertise will be unparalleled in today’s market. SatixFy’s unique digital multi-beam forming and beam-hopping on-board-processing radiation-hardening chipsets are expected to be a game-changer.
Nir Barkan, Acting CEO of SatixFy, stated, “Today’s announcement is an integral part of our strategy to focus on our core competencies of development of groundbreaking chipsets. It demonstrates our market leadership in providing space-grade chips technologies for next-generation satellites and positions SatixFy as a leading innovator in the satellite communications industry.”
Mike Greenley, CEO of MDA, added, “This acquisition is a natural next step in solidifying and strengthening our market position and addressing customer demand as we continue to capitalize on the growth in the Low Earth Orbit (LEO) satellite communication market.”
Closing Conditions and Future Prospects
The transaction is subject to customary closing conditions, including regulatory, lender, and other third-party and shareholder approvals, and is expected to be finalized in the fourth quarter of 2023.
