Policy and Legislation News
MDA to acquire DigitalGlobe
24 February 2017
WASHINGTON — MacDonald, Dettwiler and Associates announced Feb. 24 that it will acquire commercial remote sensing company DigitalGlobe for $2.4 billion, the biggest deal to date in the ongoing consolidation in the Earth imaging market.
MDA said it is offering $17.50 in cash and nearly one third of an MDA share per share of DigitalGlobe, for a combined value of $35 per DigitalGlobe share. That deal values DigitalGlobe at $2.4 billion, plus the assumption of $1.2 billion in DigitalGlobe debt. The boards of both companies have approved the deal, which they expect to close in the second half of this year.
"Following a thorough review of strategic alternatives, we believe that joining forces with MDA will enable us to deliver more value to our customers, expand opportunities for our team members and maximize value for shareowners," Jeffrey Tarr, president and chief executive of DigitalGlobe, said in a statement about the acquisition.
Image credit: DigitalGlobe - DigitalGlobe's WorldView-4 captured this image of Brasilia on Jan. 11, 2017.