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MDA Space expands contract with Globalstar to C$1.1 billion for next-gen satellites
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MDA Space expands contract with Globalstar to C$1.1 billion for next-gen satellites
Feb 10, 2025 5:34 AM

Feb 10 (Reuters) - Canadian MDA Space said on

Monday that it has expanded its contract with Globalstar ( GSAT )

to develop the next generation of low Earth orbit

satellites, bringing the total contract value to about C$1.1

billion ($767.19 million).

MDA Space ( MDALF ) will manufacture more than 50 advanced digital

satellites for Globalstar ( GSAT ), which competes with larger players

such as SpaceX's Starlink, amid a global race to capture market

share in providing satellite-based services.

The Canadian space technology company will add approximately

C$750 million to its backlog in the first quarter of fiscal

2025. This is in addition to the C$350 million that was already

added when the deal was first announced in late 2023.

Covington, Louisiana-based Globalstar ( GSAT ) - which is owned in

part by Apple ( AAPL ) - controls and operates low Earth orbit

satellites for phone and data transmission, as well as

observation services for various clients.

"With the full contract now in place, we are moving full

speed ahead on the program," said MDA Space ( MDALF ) CEO Mike Greenley.

($1 = 1.4337 Canadian dollars)

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