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SatixFy Announces Completion of Strategic $60 Million Transaction with MDA

October 31, 2023

SatixFy Communications Ltd. announced the completion of the previously announced $60 million transaction with MDA Ltd. (“MDA”) (TSX: MDA), a leading provider of advanced technology and services to the rapidly expanding global space industry.

In line with the original agreement, MDA acquired SatixFy’s digital payload division and UK subsidiary for $40 million and paid an additional $20 million in advanced payments under new commercial agreements (which includes the previous $10 million advanced payment made in June) to be applied to future orders of space grade chips. SatixFy continues to retain all its related ASIC intellectual property and new chips’ development to support the growing market.

The strategic transaction also establishes deep cooperation between SatixFy and MDA to utilize SatixFy’s revolutionary digital payload chip-based technology for advanced digital satellite payloads and is expected to open up SatixFy’s solutions to broader markets and new customers. The strategic transaction is in line with SatixFy’s strategy to focus on being a top leading technology provider to satellite payload design companies, with its unique offering of multi-beam forming and beam-hopping, using its on-board-processing radiation-hardened chipsets.

Nir Barkan, Acting CEO of SatixFy, commented, “The closing of this landmark transaction for SatixFy with MDA is a major achievement for us. It demonstrates our market leadership and lead in innovation for space-grade chip technology for next-generation satellites. We recently took the strategic decision to focus on being a top technology provider to satellite payload design companies, offering the development of groundbreaking radiation-hardened chipsets, supporting multi-beam digital antennas and on-board processing for the space industry. The conclusion of this transaction with MDA is a strong step forward in this strategy. MDA has been a steadfast SatixFy customer, and we look forward to deepening the collaboration between MDA and SatixFy into new areas. Furthermore, we expect the transaction will allow us to broaden and grow our chipset sales throughout the satellite digital-payload market. Since announcing the transaction, we are seeing increased interest from many industry players. This indicates to us that our new strategy is on the right track, and we believe will lead to long-term growth in this evolving and expanding market segment.”