Maxar Technologies Inc.
Company typePrivate
IndustryInformation technology services, Engineering services, Communications satellite
Founded5 October 2017; 6 years ago (2017-10-05)
HeadquartersWestminster, Colorado, United States
Key people
  • Daniel Jablonsky (President and CEO)
  • Walter Scott (CTO)
  • Biggs Porter (CFO)
  • Liz Andora (CHRO)
RevenueDecrease US$1.61 billion (2022)
Decrease US$11 million (2022)
Decrease US$−150 million (2022)
Total assetsIncrease US$4.61 billion (2022)
Total equityDecrease US$1.39 billion (2022)
OwnerAdvent International
Number of employees
4,600 (December 2022)
Subsidiaries
Websitemaxar.com
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]

History

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]

Timeline

This article contains a list that has not been properly sorted. Specifically, it does not follow the Manual of Style for lists of works (often, though not always, due to being in reverse-chronological order). See MOS:LISTSORT for more information. Please improve this article if you can. (March 2022)

See also

References

  1. ^ "Maxar Technologies Inc. 2022 Annual Report (Form 10-K)". SEC.gov. U.S. Securities and Exchange Commission. February 22, 2023.
  2. ^ "DigitalGlobe head Daniel Jablonsky new CEO of Maxar as Howard Lance resigns". Geospatial World. Geospatial Media & Communications. January 14, 2019. Retrieved January 15, 2019.
  3. ^ a b "MDA-DG combined entity to be rebranded as Maxar Technologies". Geospatial World. Retrieved October 6, 2017.
  4. ^ a b Alamalhodaei, Aria (May 3, 2023). "Maxar completes $6.4B sale to private equity". TechCrunch.
  5. ^ a b Sheetz, Michael (December 16, 2022). "Space company Maxar agrees to go private in $6.4 billion deal". CNBC.
  6. ^ Maxar Technologies (October 5, 2017). "MDA Completes Acquisition of DigitalGlobe, Creates Industry Leader in Satellite Systems, Earth Imagery, Geospatial Solutions and Analytics" (Press release). Retrieved November 20, 2020.
  7. ^ Greg Avery (February 14, 2018). "Maxar Technologies, parent of DigitalGlobe, moves HQ to Colorado". Denver Business Journal.
  8. ^ Maxar (October 5, 2017). "MDA Completes Acquisition of DigitalGlobe, Creates Industry Leader in Satellite Systems, Earth Imagery, Geospatial Solutions and Analytics". MAxar Technologies.
  9. ^ "BUZZ-Maxar Technologies: Hits record low on Q3 results miss, forecast cut". Reuters. October 31, 2018.
  10. ^ "Maxar Technologies Market Cap 2016-2022 | MAXR".
  11. ^ "Why Maxar Technologies Stock Plummeted 45% in March". April 4, 2019.
  12. ^ Grush, Loren (May 23, 2019). "NASA picks satellite maker Maxar to build the first crucial piece of its new lunar space station". The Verge. Retrieved May 23, 2019.
  13. ^ Maxar to Sell MDA for $765 Million - Parabolicarc.com http://parabolicarc.com/2019/12/30/maxar-to-sell-mda-for-765-million/#more-71809
  14. ^ a b "Iconic Space Technology Firm Returns to Canadian Control as Sale of MDA to Northern Private Capital Closes" (Press release).
  15. ^ "MDA". MDA. Retrieved October 27, 2020.
  16. ^ Beech, Eric (February 28, 2022). "Russian military convoy north of Kyiv stretches for 40 miles -Maxar". Reuters. Retrieved February 28, 2022.
  17. ^ "More than 70 Ukrainian soldiers killed in Russian attack on base near Kharkiv". The Guardian. March 1, 2022. Retrieved March 1, 2022.
  18. ^ "The satellite giant bringing global crisis into focus". The Register. March 1, 2022. Retrieved March 6, 2022.
  19. ^ Avery, Greg (September 21, 2023). "Colorado aerospace giant being split in two, its CEO replaced and some employees laid off". Denver Business Journal. Archived from the original on September 22, 2023. Retrieved September 28, 2023.
  20. ^ "Orbital Sciences Deal". New York Times. September 6, 1995. Retrieved July 15, 2006.
  21. ^ "MDA to Acquire Iotek Inc. of Halifax". Archived from the original on May 6, 2006. Retrieved July 15, 2006.
  22. ^ "In Real Estate, Geographic Information and the Internet Changes Everything". Retrieved July 15, 2006.
  23. ^ "MDA Acquires Small Robotic Mining Company". Archived from the original on May 15, 2006. Retrieved July 15, 2006.
  24. ^ a b c d "Annual Report 2005" (PDF). Archived from the original (PDF) on May 6, 2006. Retrieved July 15, 2006.
  25. ^ "MDA Acquires Leading Land Information Company in Scotland". Archived from the original on May 6, 2006. Retrieved July 15, 2006.
  26. ^ "MDA Acquires Leading Provider Of Electronic Exchange Solutions To Lenders And Surveyors In UK". Retrieved July 15, 2006.
  27. ^ "MDA Acquires Legal Search Firm In Northern Ireland". Retrieved July 15, 2006.
  28. ^ "MDA Acquires U.S.-Based Alliance Spacesystems". December 5, 2007. Retrieved May 14, 2013.
  29. ^ "MDA Selling Canadarm Business to U.S. Firm". CBC News. January 8, 2008. Retrieved February 21, 2008.
  30. ^ "Ottawa reaffirms decision to block MDA deal". The Globe and Mail. May 9, 2008. Retrieved January 25, 2020.
  31. ^ "Minister of Industry Confirms Initial Decision on Proposed Sale of Macdonald, Dettwiler and Associates Ltd. to Alliant Techsystems Inc". Industry Canada. May 8, 2008. Retrieved January 4, 2009.
  32. ^ MacDonald, Dettwiler and Associates CEO Announces Transformational US Acquisition Conference (Transcript). Retrieved on 06-27-12.
  33. ^ "October 3, 2014 – MDA completes strategic capability acquisition in the United States". www.prnewswire.com. Retrieved June 25, 2018.
  34. ^ Pugliese, David (November 9, 2017). "Canadarm creator to transform into U.S. company, raising concerns of tech heading south of the border". National Post. Retrieved November 9, 2017.
  35. ^ Henry, Caleb (July 16, 2018). "Maxar acquires robotics firm Neptec for $32 million". SpaceNews. Retrieved July 16, 2018.
  36. ^ "Maxar Technologies Completes U.S. Domestication." Archived January 13, 2019, at the Wayback Machine Maxar Technologies.
  37. ^ "Maxar Technologies Completes Acquisition of Vricon, Inc. | Maxar". www.maxar.com (Press release). Retrieved July 1, 2020.
  38. ^ "Maxar is being acquired by Advent International, a global firm with $89 billion in assets under management". Space News. December 16, 2022. Retrieved December 16, 2022.

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