MDA Ltd. Inks A Deal To Acquire Digital Payload Division Of Satixfy Communications Ltd For $40M
Portfolio Pulse from Benzinga Newsdesk
MDA Ltd. (TSX:MDA) has signed an agreement to acquire the digital payload division of SatixFy Communications Ltd. (NYSE:SATX), SatixFy Space Systems UK Ltd., for $40 million. This acquisition will strengthen MDA's position in the digital satellite communications market.
August 31, 2023 | 10:14 am
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NEUTRAL IMPACT
SatixFy Communications Ltd. has sold its digital payload division to MDA Ltd. for $40 million.
The sale of SatixFy's digital payload division will provide the company with a cash influx of $40 million. However, it's unclear at this stage how the company plans to use these funds and what impact this will have on its overall business strategy. Therefore, the short-term impact on SatixFy's stock is neutral.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
MDA's acquisition of SatixFy's digital payload division will strengthen its position in the digital satellite communications market.
The acquisition of SatixFy's digital payload division will provide MDA with additional capabilities and resources, potentially leading to increased market share and revenues. This is likely to have a positive impact on MDA's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100