12:03 PM EDT, 04/01/2025 (MT Newswires) -- (Updates shares.)

MDA Space ( MDALF ) said Tuesday that it agreed to acquire SatixFy Communications ( SATX ) for US$193 million.

MDA will pay US$2.10 per share for SatixFy, which supplies semiconductors and solutions for the space and the satellite communications value chain. Its technology enables satellite broadband and direct-to-device constellations with its radiation hardened digital beamformers, enabling them to generate hundreds of beams, designed to significantly improve satellite performance and decrease cost.

"With this acquisition MDA Space ( MDALF ) is taking a logical next step to further reinforce our technical differentiation as the global market transitions from analog to digital satellite technology," said MDA chief executive Mike Greenley. "Similar to MDA Space ( MDALF ), SatixFy is an innovation company at its core, and bringing these two highly skilled teams together adds complementary expertise and technology that will allow us to further enhance our value proposition for current and future customers by providing vertically integrated and differentiated digital satellite solutions."

Meanwhile, MDA Space ( MDALF ) may be the front-runner to win another Apple ( AAPL )-related satellite contract, The Wall Street Journal reported, citing a note from Desjardins' Benoit Poirier.

According to the report, Apple ( AAPL ) has explored investments in EchoStar to provide more satellites/spectrum to support iPhone connectivity. The Desjardins analyst reportedly said he thinks MDA could win this given that "MDA is close to winning a contract for another large D2D satellite constellation".

Apple's ( AAPL ) close ties to MDA through two previous Globalstar constellation orders as well as its large capacity and spectrum needs "leads us to being fairly confident that MDA is the OEM satellite manufacturer front-runner for this upcoming Apple-EchoStar constellation," Poirier was quoted as saying. This would be a big positive for the business, if true, Poirier added.

MDA Space ( MDALF ) shares were last seen down $1.40 to $26.09 on the Toronto Stock Exchange.

Price: 26.09, Change: -1.40, Percent Change: -5.09