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Maxar Technologies Announced its Intention to Acquire Vricon

By GeoConnexion - 26th August 2020 - 10:21

Maxar Technologies, a trusted partner and innovator in Earth Intelligence and Space Infrastructure, announced its intent to exercise its call option to take full ownership of 3D data and analytics firm Vricon, for approximately $140 million, or approximately $115 million net of estimated cash at closing. To fund the transaction, Maxar intends to issue $150 million in aggregate principal amount of new senior secured notes. Maxar has also agreed to repurchase $150 million in aggregate principal amount of existing notes using the proceeds of the recent sale of its MDA business. Vricon is a global provider of satellite-derived 3D data for defence and intelligence markets, with software and products that enhance 3D mapping, Earth intelligence data, military simulation and training and precision-guided munitions. The company was formed as a joint venture between Maxar and Saab in 2015 to combine patented Saab IP with Maxar commercial satellite imagery to build highly accurate, immersive 3D products at scale.

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