Canadian space technology company MDA Space announced Friday that it plans to purchase Blue Canyon Technologies, a U.S.-based spacecraft manufacturer, from RTX’s Raytheon division in an all-cash deal worth $620 million. The move is designed to grow MDA Space’s presence in the American defense space industry.
The deal arrives at a time when governments around the world are ramping up investment in defense and space programs, creating new business opportunities for companies that make satellites, spacecraft, and related technologies.
The announcement also comes on the heels of SpaceX’s debut on the Nasdaq stock exchange last week, during which the company raised $75 billion through its initial public offering.
As part of the transaction, MDA Space would gain Blue Canyon’s spacecraft production capabilities, two manufacturing facilities located in Denver, Colorado, and a workforce of more than 400 employees.
Blue Canyon Technologies was established in 2008 and is headquartered in Colorado. The company specializes in designing and building small satellites, spacecraft buses, and mission systems for commercial, civil, and defense clients. RTX acquired the company in 2020.
MDA Space said the addition of Blue Canyon would expand its business opportunity pipeline by approximately $3.5 billion. The company also expects the acquisition to contribute positively to its adjusted earnings before interest, taxes, depreciation, and amortization, as well as adjusted earnings per share, starting in 2027.
The transaction is expected to close by the end of 2026, subject to regulatory approvals and standard closing conditions.
