On April 1, 2025, MDA Space Ltd. (TSX: MDA) announced a definitive agreement to acquire all outstanding shares of SatixFy Communications Ltd. (NYSE American: SATX) in an all-cash transaction valued at approximately US$269 million (C$387 million). The purchase price of US$2.10 per share represents a 75% premium to SatixFy’s closing price on March 31, equating to an equity value of approximately US$193 million (C$278 million). MDA Space also intends to retire US$76 million (C$109 million) of SatixFy’s debt at closing.

Founded in 2012, SatixFy is a developer of advanced chipsets and systems for satellite communications, with over US$270 million (C$389 million) invested in R&D and a portfolio of more than 60 issued and pending patents. The acquisition is expected to strengthen MDA Space’s vertically integrated offering in software-defined digital satellite systems, adding SatixFy’s 165-person global team and specialized IP to support expanding broadband, IoT, and direct-to-device markets.

The transaction was unanimously approved by both boards and a special committee of SatixFy. Shareholders representing approximately 57% of SatixFy’s shares entered into voting support agreements. The deal includes a 45-day go-shop period ending May 16, 2025, and is expected to close in Q3 2025, subject to regulatory and shareholder approvals.

Citi served as financial advisor and Norton Rose Fulbright Canada LLP as legal counsel to MDA Space. TD Cowen advised SatixFy, with legal counsel from Goldfarb Gross Seligman & Co. and Sullivan & Worcester LLP.