MDA Space, a trusted mission partner to the rapidly expanding global space industry, announced that it has entered into a firm and irrevocable offer to acquire a majority interest in CLS (the “Transaction”), a global leading provider of AI-driven Earth observation value-added services and satellite IoT solutions. With more than 14,000 customers in approximately 150 countries, CLS is expected to generate approximately €286 million (C$465 million) in revenue in 2026.

Pursuant to the Transaction, at completion, MDA Space would acquire an approximately 70% interest in CLS from the shareholders of CLS’s parent company, for approximately €567 million (C$920 million) in cash (subject to adjustments). The Centre national d'études spatiales (“CNES”), the French space agency, would retain an approximately 30% interest in CLS.

Existing and next generation MDA Space investments in Earth and space observation assets, ground stations and associated data and analytics seamlessly complement core monitoring and forecasting applications pioneered by CLS.

“Our goal is for MDA Space to provide global government and commercial customers with the broadest and richest offering of multi-sensor Earth and space observation data, products, and services on the market,” said Mike Greenley, Chief Executive Officer of MDA Space. “Bringing together MDA Space and CLS is a unique opportunity to create a growing, profitable, highly competitive and vertically integrated geospatial services business with industry leading capabilities and go-to-market channels to address demand globally and accelerate growth for both businesses. Equally important, it preserves critical sovereign capabilities and capacity in France and Canada.”

Founded in 1986 as a subsidiary of the CNES, CLS has continuously invested in innovative space-based solutions to monitor and protect the planet. With headquarters in Toulouse, and 40 sites worldwide, CLS employs approximately 1,200 people dedicated to sustainable resource management.

“For more than 40 years, CLS has been harnessing space technologies, data and innovation to help better understand our planet and support its sustainable management. Joining forces with MDA Space represents a unique opportunity to accelerate our development, expand the global reach of our solutions and strengthen our innovation capabilities” said Stéphanie Limouzin, Chief Executive Officer of CLS. “We are confident that this new chapter will create value for our customers, employees and partners, while preserving what makes CLS unique: its mission-driven culture, deep expertise and longstanding commitment to delivering solutions that support a more sustainable and resilient world.”

Following the closing of the acquisition of CLS and the previously announced acquisition of Blue Canyon Technologies, MDA Space expects to be within its target range of 1.5x – 2.5x net debt to Adjusted EBITDA.

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