MDA Space Acquires Blue Canyon Technologies from RTX for $620 Million

Toronto, Ontario — June 19, 2026 — MDA Space (TSX: MDA) has entered into a definitive agreement to acquire Blue Canyon Technologies (BCT) from RTX Corporation for $620 million USD, marking a significant consolidation transaction in the commercial small satellite sector. The acquisition expands MDA's manufacturing and propulsion capabilities as demand for satellite platforms grows across communications, Earth observation, and space logistics markets.

Blue Canyon Technologies, founded in 2009 and acquired by RTX in 2021 for an estimated $350–400 million, specializes in small satellite buses, attitude control systems, and spacecraft propulsion. The Boulder, Colorado-based company has delivered platforms supporting commercial constellation operators, government missions, and research institutions.

RTX's divestment reflects the defense and aerospace prime's ongoing strategic realignment toward its core defense electronics and aviation businesses. For MDA, BCT represents a direct pathway into the $8.2 billion small satellite market, which analysts at Euroconsult and NSR estimate is growing at 15% or more annually.

Strategic Rationale

The combined entity addresses several converging market dynamics. Major satellite constellation operators require qualified, scalable platform suppliers with demonstrated flight heritage. The broader commercial space economy reached an estimated $469 billion in 2024 and is projected to grow at 8–12% CAGR through 2030, according to Space Foundation and Morgan Stanley Research. Emerging on-orbit services markets — including debris removal, orbital refueling, and satellite life extension — require the combination of robotics expertise and spacecraft platform engineering that the MDA-BCT entity is positioned to provide.

MDA's heritage in space robotics, including Canadarm and Canadarm2, provides differentiated on-orbit servicing capabilities. Integrating BCT's spacecraft bus and propulsion technology is intended to support pursuit of commercial space logistics contracts.

Financial Considerations

The $620 million transaction represents a meaningful capital deployment relative to MDA's approximate $2.5–3.2 billion CAD market capitalization. Management has indicated the deal will be financed through a combination of debt and equity, with integration costs and synergy targets to be detailed at a forthcoming investor day. The transaction is subject to customary regulatory approvals and is expected to close in Q3 2026.

Competitive Context

The acquisition positions MDA more directly against Rocket Lab's space systems division, Northrop Grumman's satellite manufacturing operations, and other competitors in the small satellite platform market.

About MDA Space

MDA Space (TSX: MDA) is a Canadian space technology company with more than 50 years of heritage in space robotics, satellite systems, and geointelligence. The company's portfolio includes the Canadarm robotic systems aboard the International Space Station, commercial satellite antenna systems, and Earth observation solutions. MDA employs approximately 3,000 people across facilities in Canada, the United States, and the United Kingdom.

About Blue Canyon Technologies

Blue Canyon Technologies, headquartered in Boulder, Colorado, designs and manufactures small satellite platforms, spacecraft buses, attitude determination and control systems, and propulsion solutions. Founded in 2009, BCT has delivered spacecraft for commercial, civil, and national security missions. The company operates as a subsidiary of RTX Corporation pending close of the MDA transaction.

This press release contains forward-looking statements subject to risks and uncertainties. Actual results may differ materially from those anticipated.

Media Contact: [MDA Space Communications] | [email protected]