Maxar Technologies, a satellite imaging and manufacturing company, has completed a $6.4 billion private equity sale.
The company announced Wednesday that it is no longer listed on the New York Stock Exchange after closing the acquisition by PE Advent International and minority investor British Columbia Investment Management Corporation. It will soon be delisted from the Toronto Stock Exchange.
The entities announced the merger agreement in December, which states that Maxar’s outstanding shares will be acquired for $53 per share in an all-cash transaction.
The aerospace company in Westminster, Colorado is the result of the 2017 merger between DigitalGlobe and MDA Holdings. The company later sold the MDA assets for C$1 billion ($765 million). Maxar has seen a series of highs and lows since then; It ended 2018 with a loss of $1.26 billion due to a drop in share price, due in part to the loss of a key imaging satellite.
But since then, the company has steadily recovered its share price, finishing 2022 with an estimated $2 billion in revenue. The company has secured major US government and defense contracts, including a $3.2 billion contract from the National Reconnaissance Office last year. Recently, Maxar was awarded a contract by the National Geospatial Intelligence Agency worth up to $192 million over five years.