Maxar moves to close deal with Advent after receiving no competing offers

Maxar satellite imagery collected February 10, 2023, shows areas of intense artillery shelling in the farms and fields southwest of Pavlivka, Ukraine, as Ukrainian forces reportedly pushed back Russian troops that have been attempting to capture territory in the area. Credit: Maxar Technologies
Maxar satellite imagery collected February 10, 2023, shows areas of intense artillery shelling in the farms and fields southwest of Pavlivka, Ukraine, as Ukrainian forces reportedly pushed back Russian troops that have been attempting to capture territory in the area. Credit: Maxar Technologies

WASHINGTON — The $6.4 billion acquisition of Maxar Technologies by the private equity firm Advent International remains on track to close in mid-2023 following completion of a 60-day “go shop” period when other offers could have been considered.

The agreement with Advent International was announced Dec. 16, 2022. During the 60-day “go shop” period that expired Feb. 14, Maxar and its financial advisor J.P. Morgan Securities held discussions with 36 potential buyers “but did not receive any competing acquisition proposals,” Maxar announced Feb. 15.

The acquisition still has to be officially approved by Maxar stockholders. Maxar said the deal cleared a U.S. antitrust review at the end of January.

Headquartered in Westminster, Colorado, Maxar operates four high-resolution imaging satellites and is the primary supplier of commercial satellite imagery to the U.S. government. The company also manufactures satellites in Palo Alto, California.

The completion of Advent’s acquisition in a timely manner is key to Maxar as it looks to accelerate the deployment of new satellites.

Amid growing demand for satellite imagery, Maxar has been eager to launch its new WorldView Legion high-resolution optical imaging satellites that have been in production for years and delayed by supply chain problems, the pandemic and other issues. The first two are expected to launch this year.

When the deal with Advent was announced, Maxar’s president and CEO Daniel Jablonsky said that going private would help Maxar move faster and get WorldView Legion on orbit.

The company on Feb. 14 announced an agreement to secure access to radar imaging satellites from startup Umbra.

Sandra Erwin writes about military space programs, policy, technology and the industry that supports this sector. She has covered the military, the Pentagon, Congress and the defense industry for nearly two decades as editor of NDIA’s National Defense…

Note: This article have been indexed to our site. We do not claim legitimacy, ownership or copyright of any of the content above. To see the article at original source Click Here

Related Posts
Die besten 2-Faktor-Authentifizierungs-Apps für iOS und Android thumbnail

Die besten 2-Faktor-Authentifizierungs-Apps für iOS und Android

© Getty Images/iStockphoto / marchmeena29/iStockphoto Apps Wer seine Accounts schützen will, braucht die 2-Faktor-Authentifizierung. Zur Speicherung der Token gibt es einige Apps. Die Nutzung von 2-Faktor-Authentifizierung ist in der heutigen Zeit Pflicht. Während lange und komplizierte Passwörter zumindest das Erraten oder in machen Fällen Bruteforcing verhindern sollen, ist ein einfach abgesicherter Account trotzdem alles andere…
Read More
Machine learning may enable bioengineering of the most abundant enzyme on the planet thumbnail

Machine learning may enable bioengineering of the most abundant enzyme on the planet

Credit: Pixabay/CC0 Public Domain A Newcastle University study has for the first time shown that machine learning can predict the biological properties of the most abundant enzyme on Earth—Rubisco. Rubisco (Ribulose-1,5-bisphosphate carboxylase/oxygenase) is responsible for providing carbon for almost all life on Earth. Rubisco functions by converting atmospheric CO2 from the Earth's atmosphere to organic
Read More
The UK's ARIA Is Searching For Better AI Tech thumbnail

The UK’s ARIA Is Searching For Better AI Tech

Dina Genkina: Hi, I’m Dina Genkina for IEEE Spectrum‘s Fixing the Future. Before we start, I want to tell you that you can get the latest coverage from some of Spectrum‘s most important beats, including AI, climate change, and robotics, by signing up for one of our free newsletters. Just go to spectrum.ieee.org/newsletters to subscribe.
Read More
Index Of News