In a deal that broke after Location Business News’ December deadline, Westminster, Colo.-based Maxar Technologies MAXR 0.00 will be acquired by private equity investor Advent International for $6.4 billion. Advent has agreed to acquire all outstanding shares of Maxar common stock for $53 per share.
Maxar, publicly traded under the MAXR ticker, will become a private company after the deal’s closing, which is expected in mid-2023. Advent said that Maxar, as a private company, will be able to “accelerate investments in next-generation satellite technologies.” These include delivery of the new Legion 7 and 8 satellites and growing its machine learning and 3D mapping business.
The company said that it is expected that it will retain the Maxar named and continue to operate its headquarters in Westminster. Maxar Technologies was created in 2017 from the combination of MacDonald, Dettwiler and Associates (MDA) and DigitalGlobe, which was involved in several location ventures and partnerships in the early 2000s.
Contact: Fernando Vivanco, Maxar, (720) 877-5220, fernando.vivanco@maxar.com, www.maxar.com.
