MDA expands U.S. defense space business with acquisition

Anabelle Colaco
23 Jun 2026, 00:59 GMT+10

Canadian space technology company MDA Space is expanding its presence in the U.S. defense and satellite market through a US$620 million acquisition of Blue Canyon Technologies from RTX's Raytheon business
The all-cash deal, announced June 19, comes as governments around the world increase spending on defense and space programs, creating new opportunities for companies that supply satellites, spacecraft, and related technologies
MDA Space said the acquisition will strengthen its capabilities in spacecraft manufacturing and broaden its footprint in the fast-growing U.S. space sector

TORONTO, Canada: Canadian space technology company MDA Space is expanding its presence in the U.S. defense and satellite market through a US$620 million acquisition of Blue Canyon Technologies from RTX's Raytheon business.

The all-cash deal, announced June 19, comes as governments around the world increase spending on defense and space programs, creating new opportunities for companies that supply satellites, spacecraft, and related technologies.

MDA Space said the acquisition will strengthen its capabilities in spacecraft manufacturing and broaden its footprint in the fast-growing U.S. space sector.

The transaction will bring Blue Canyon's satellite production expertise, two facilities in Denver, Colorado, and a workforce of more than 400 employees into MDA's operations.

The announcement also comes amid heightened investor interest in the space industry following SpaceX's blockbuster Nasdaq debut last week, which raised $75 billion in the largest IPO on record.

MDA said the deal is expected to close by the end of 2026, subject to regulatory approvals and customary closing conditions.

Founded in 2008, Blue Canyon Technologies designs and builds small satellites, spacecraft buses, and mission systems for commercial, civil, and defense customers. RTX acquired the Colorado-based company in 2020.

MDA said adding Blue Canyon would significantly expand its growth opportunities, increasing its business pipeline by about $3.5 billion.

The Canadian company also expects the acquisition to contribute positively to adjusted EBITDA and adjusted earnings per share beginning in 2027.