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Maxar Technologies' MDA Announces Acquisition of Neptec Design Group, a Leading Space Sensors Company in Canada and the United Kingdom

July 16, 2018

MDA has acquired Neptec Design Group Ltd. (Neptec), the leading electro-optical and electro-mechanical systems and high-performance intelligent Light Detection and Ranging (LIDAR) company for CA$42 million, comprised of approximately CA$8 million in cash and the balance in Maxar common shares. With Neptec, MDA will deliver end-to-end robotic systems and an expanded set of solutions, positioning the company to capture growth in U.S., Canadian and global space exploration markets and accelerate advancement into new and expanding space segments. The transaction is accretive to Maxar's operating earnings per share beginning in 2019, solidifies MDA's leadership in space robotics innovation, and reinforces Maxar's industry-leading space capabilities.

Neptec's approximately 100 employees in Ottawa, Canada, and Harwell, U.K., will join MDA's workforce of approximately 1,900 across Canada. The new Sensor business will combine with the newly created MDA Commercial division under the MDA brand.

"Today's announcement provides a tremendous opportunity to advance and grow MDA and Neptec internationally, develop powerful new technologies and drive future economies," said Mike Greenley, group president of MDA. "The Neptec team is well-established in the industry, and this investment represents an important strategic opportunity to offer broader solutions for the growing space exploration market."

"As a global leader in space technology," Greenley continued, "I am excited to solidify our position as the provider of the most valuable space exploration products in the world by adding Neptec's world-class sensor and vision systems and robust space robotic capabilities to our industry-leading space portfolio."

MDA's suite of space robotics and exploration capabilities combine with Neptec's space sensors and exploration robotics to provide commercial and government customers worldwide with innovative, three-dimensional space systems that augment the functionality of robotic systems, including such tasks as capturing space vehicles and berthing them to structures. Neptec also operates LIDAR systems, which deliver reliable guidance and navigation sensors for space vehicles.

"In our nearly 30-year history, Neptec has contributed critical systems to some of the most demanding space exploration missions, and we've built a reputation for making things work in challenging environments," said Paul Nephin, Neptec CEO. "Combining our capabilities with MDA creates a tremendous opportunity to win new business and continue to expand our footprint in Canada, the United Kingdom and globally."