BRAMPTON, Ontario — Canadian space technology company MDA Space announced on Friday that it has agreed to acquire U.S.-based satellite manufacturer Blue Canyon Technologies from RTX Corp.’s Raytheon business for $620 million in cash, a deal aimed at expanding MDA’s presence in the growing U.S. defense and space markets.
MDA Space said the acquisition would add Blue Canyon’s spacecraft manufacturing capabilities, two facilities in Denver, Colorado, and a workforce of more than 400 employees. The transaction is expected to close by the end of 2026, subject to regulatory approvals and customary closing conditions, the company said.
The agreement comes as governments in North America and elsewhere continue to increase spending on defense, satellite communications and national security space programs. Industry executives have pointed to rising demand for satellites, spacecraft systems and related technologies as countries seek to strengthen space-based capabilities.
Blue Canyon Technologies, founded in 2008, designs and manufactures small satellites, spacecraft buses and mission systems for commercial, civil and defense customers. The Colorado-based company was acquired by Raytheon Technologies in 2020 and has since expanded its manufacturing operations.
In a statement announcing the transaction, MDA Space said the acquisition would strengthen its ability to pursue opportunities in the United States, particularly in defense-related programs. The company added that Blue Canyon’s operations would complement its existing satellite and space systems business.
The acquisition is also expected to expand MDA Space’s future business opportunities. The company said Blue Canyon would add approximately $3.5 billion to its opportunity pipeline and is expected to contribute positively to adjusted earnings before interest, taxes, depreciation and amortization, as well as adjusted earnings per share, beginning in 2027.
RTX, one of the largest U.S. aerospace and defense companies, did not publicly disclose detailed reasons for the sale beyond the announcement of the transaction. Blue Canyon has supplied spacecraft and satellite systems for a range of government and commercial missions since becoming part of Raytheon’s portfolio.
The agreement follows continued consolidation across the global space industry as companies seek greater scale and broader technical capabilities. Recent transactions in the sector have involved manufacturers, satellite operators and defense technology firms pursuing expansion in government and commercial markets.
“MDA Space is pleased to welcome Blue Canyon Technologies to our organization,” the company said in its announcement, describing the acquisition as a step toward expanding its market reach and spacecraft manufacturing capabilities.
As of Friday, the transaction remained subject to regulatory review and other closing requirements. Both companies said operations would continue as normal while the acquisition process moves forward.
