GSTC 2023

Advent to Acquire Maxar Technologies for $6.4 Billion

Credit: Maxar Technologies

Ibadan, 19 December 2022. – Maxar Technologies has announced that it has entered into a definitive merger agreement which will see Advent International (“Advent”), one of the largest and most experienced global private equity investors, acquire the Company. The acquisition will feature an all-cash transaction that values Maxar at an enterprise value of approximately $6.4 billion. Following the closing of the transaction, Maxar will remain a US-controlled and operated company.

Under the terms of the definitive merger agreement, Advent has agreed to acquire all outstanding shares of Maxar common stock for $53.00 per share in cash. The purchase price represents a premium of approximately 129% over Maxar’s closing stock price of $23.10 on December 15, 2022, the last full trading day prior to this announcement, an approximately 135% premium to the 60-day volume-weighted average price prior to this announcement, and a premium of approximately 34% over Maxar’s 52-week high.

Following the closing of the transaction, Maxar will benefit from the significant resources, operational expertise, and capacity for investment for Advent. As a private company, Maxar will be able to accelerate investments in next-generation satellite technologies and data insights that are vital to the Company’s Government and commercial customers, as well as pursue select, strategic M&A to further enhance the Company’s portfolio of solutions.

Speaking on the acquisition, Daniel Jablonsky, President and CEO of Maxar, said, “Advent has a proven record of strengthening its portfolio companies and a desire to support Maxar in advancing our long-term strategic objectives. As a private company, we will have enhanced flexibility and additional resources to build on Maxar’s strong foundation, further scale operations, and capture the significant opportunities in a rapidly expanding market.”

Likewise, Shonnel Malani, Managing Director and global head of Advent’s aerospace and defense team, noted, “Maxar is a uniquely positioned and attractive asset in satellite manufacturing and space-based high-resolution imagery, with an incredible workforce and many opportunities ahead.”

Check Also

#SpaceWatchGL Opinion: Do Space Forces Really Contravene International Space Law?

On the heels of Israel’s purported announcement of the development of its “space administration” Space Force, one cannot help but wonder if the emergence of Space Forces is yet another affront to the provisions of the legal framework that governs outer space.