Future Tech
Advent to buy Maxar Technologies for about US$4 bil
Maxar Technologies Inc said on Friday private-equity firm Advent International has agreed to buy the satellite owner and operator for about US$4 billion.
Shares of Maxar more than doubled in premarket trading.
Under the agreement, Advent will pay US$53 a share for Maxar, representing a premium of nearly 129% over the stock's last closing price.
Westminster, Colorado-based Maxar, which has a market cap of US$1.72 billion, is a satellite imaging company that observes changes on Earth and analyses data. Images of the battlefield in Ukraine are often provided by Maxar.
The company's customers include the US government, Telesat and TomTom, among others.
- Reuters
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