MDA Space Buys Blue Canyon for $620 Million, Shares Rise 4%
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MDA Space agreed to acquire Blue Canyon Technologies for $620 million in an all-cash deal, aiming to access classified US defense work. Blue Canyon, currently owned by RTX, holds security clearances and has a significant defense-related revenue stream. The acquisition is financed by senior secured debt, expected to close by year-end, and may boost MDA's adjusted earnings by 2027. Following the announcement, MDA shares rose 4% in Toronto.
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