MDA Space offers to buy a majority interest in French satellite firm

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TORONTO — MDA Space Ltd. says it has entered into a firm offer to acquire a majority interest in France-based Collecte Localisation Satellites.

Under the agreement, MDA Space will acquire about a 70 per cent interest in the company for about $920 million in cash, while the French space agency would retain about a 30 per cent interest.

MDA Space CEO Mike Greenley says the goal is to provide global government and commercial customers with Earth and space observation data, products and services.

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The transaction is subject to regulatory approvals and other closing conditions and is expected to be completed by the end of 2026 or early 2027.

MDA Space also announced that it has entered into a bought-deal offering where underwriters have agreed to purchase about 20 million common shares of MDA Space at a price of US$35.60 per share for gross proceeds of US$712 million.

MDA Space says it intends to use the net proceeds of the offering to fund a portion of its purchase of Collecte Localisation Satellites.

This report by The Canadian Press was first published July 8, 2026.