U.S. private equity firm TPG Capital will acquire Mac-Donald Dettwiler and Associates (MDA) property information division, including information distribution service BC OnLine, for $850 million,
MDA CEO Dan Friedmann said the sale of the was part of his decision to realign MDA's business into a smaller unit, diverting the proceeds of the sale to support its businesses in aerospace information systems, surveillance, satellite information distribution and robotics. “MDA will stay on the hunt for acquisitions that will build on its existing talents and help it break into new markets.”
The money could be used to support MDA satellite programs such as the recent $80 million extension of its contract with the Canadian Space Agency in October to provide technical systems for the Radarsat-1 and Radarsat-2 surveillance satellites.
The transaction is expected to close early next year, pending regulatory approval.
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