Company type | Private |
---|---|
Industry | Information technology services, Engineering services, Communications satellite |
Founded | 5 October 2017 |
Headquarters | Westminster, Colorado, United States |
Key people |
|
Revenue | US$1.61 billion (2022) |
US$11 million (2022) | |
US$−150 million (2022) | |
Total assets | US$4.61 billion (2022) |
Total equity | US$1.39 billion (2022) |
Owner | Advent International |
Number of employees | 4,600 (December 2022) |
Subsidiaries |
|
Website | maxar |
Footnotes / references [1][2] |
Maxar Technologies Inc. is a space technology company headquartered in Westminster, Colorado, United States, specializing in manufacturing communication, Earth observation, radar, and on-orbit servicing satellites, satellite products, and related services. DigitalGlobe and MDA Holdings Company merged to become Maxar Technologies on October 5, 2017.[3]
Maxar Technologies is the parent holding company of Space Systems Loral, headquartered in Palo Alto, California, US; DigitalGlobe, headquartered in Westminster, Colorado, US; and Radiant Solutions, headquartered in Herndon, Virginia, US. From 2017 to 2023, it was dual-listed on the Toronto Stock Exchange and New York Stock Exchange as MAXR.
In May 2023, Maxar was acquired by private equity firm Advent International, in an all-cash transaction worth $6.4 billion.[4][5]
Maxar Technologies was created in 2017 from the purchase of DigitalGlobe by MacDonald, Dettwiler and Associates (MDA), who renamed the company Maxar.[6] The headquarters of the combined entity was then established in Westminster, Colorado. The company was dual-listed on the TSX and NYSE.[7][8]
In Q3 2018 Maxar's revenue and adjusted profit missed estimates due to a decline in its satellite manufacturing segment oriented towards geosynchronous Earth orbit communications, which led to a plunge in the stock price.[9] The situation was compounded in January 2019 with the loss of their relatively new WorldView-4 satellite, and the market capitalization fell from $3 to $0.3 billion in half a year,[10] and with an insurance payment only covering a fifth of WV-4 total launch cost the company had to restructure its debts in April 2019.[11]
In May 2019, the company was selected as the provider of the power and propulsion element for the Lunar Gateway developed by NASA.[12]
On December 30, 2019, the company announced that it had entered into a definitive agreement to sell MDA's assets to a consortium of financial sponsors led by Northern Private Capital for CA$1 billion (US$765 million). The sale includes all of MDA's Canadian businesses, encompassing ground stations, radar satellite products, robotics, defense, and satellite components, representing approximately 1,900 employees.[13]
On April 8, 2020, the sale of MDA to NPC officially closed. The divesting of its Canadian MDA portion returned MDA to a separate operating company.[14] The newly formed privately held Canadian company was named MDA Ltd.,[15] which later listed on the Toronto Stock Exchange.
In 2022, Maxar published several satellite images that showed a Russian military convoy during its invasion of Ukraine.[16][17][18]
In September 2023, Maxar was broken into two business units, Maxar Space Infrastructure (based in California, led by CEO Chris Johnson) and Maxar Intelligence (based in Colorado, led by interim CEO Dan Jablonsky).[19]