Why SatixFy Communications Shares Are Shooting Higher?
Portfolio Pulse from Lekha Gupta
SatixFy Communications Ltd (NYSE:SATX) shares surged by over 26% after the company announced a deal to sell its digital payload division, SatixFy Space Systems UK Ltd., to MDA Ltd. (OTC:MDALF) for $40 million. The transaction also includes $20 million in advanced payments under new commercial agreements. The deal is expected to close in Q4 FY23.
August 31, 2023 | 2:21 pm
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MDA Ltd. has entered into a deal to acquire SatixFy's digital payload division for $40 million. This acquisition is expected to enhance MDA's digital payloads with SatixFy's space chipsets.
The acquisition of SatixFy's digital payload division will enhance MDA's digital payloads with SatixFy's space chipsets. This strategic acquisition is likely to have a positive impact on MDA's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
SatixFy's shares surged after announcing a deal to sell its digital payload division to MDA Ltd. for $40 million. The deal is expected to boost SatixFy's chipset sales and strengthen its competitive positioning.
The deal with MDA Ltd. is expected to boost SatixFy's chipset sales and strengthen its competitive positioning in the satellite communications industry. This positive news has led to a surge in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100