CEO Mike Greenley emphasizes building a broad, multi-sensor Earth and space observation platform while preserving sovereign capacities in France and Canada.

The acquisition is framed as strategically important for expanding access to comprehensive geospatial data and services for both government and commercial customers.

Regulatory and completion steps include information and consultation procedures with employee representatives, with the deal expected to close by late 2026 or early 2027, subject to approvals and conditions.

MDA Space announces a firm cash offer to acquire a majority stake in CLS, a leading AI-driven Earth observation and satellite IoT services provider, for about €567 million (roughly C$920 million), with CNES retaining around 30% of CLS.

The deal is expected to be accretive to Adjusted EBITDA and Adjusted EPS in the first year and would double MDA Space’s recurring revenue, driven by expanded global sales and distribution, including the addition of over 100 new sales team members.

CLS is projected to generate approximately €286 million (C$465 million) in revenue in 2026, and CLS currently serves more than 14,000 customers across about 150 countries with around 1,200 employees across 40 sites.

Closing is targeted by year-end 2026 or early 2027, contingent on regulatory approvals and consultations with employee representatives.

MDA Space will consolidate 100% of CLS revenue and Adjusted EBITDA, with CNES’s minority stake treated as a non-controlling interest, and will continue integrating with earlier acquisitions like Blue Canyon Technologies.

The press release contains forward-looking statements with standard risk disclosures and notes that some metrics are non-IFRS measures (Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EPS).

Financing and advisory details are highlighted, including committed financing from BMO Capital Markets, RBC Capital Markets, and Scotiabank, with named legal and financial advisers and an accompanying pre-recorded webcast and investor materials.

The transaction is subject to regulatory approvals and French employee consultations, and may involve additional financing to retire CLS’s existing indebtedness at closing; closing targeted for the end of 2026 or early 2027.

The collaboration aims to complement MDA Space’s existing investments in data assets, ground stations, and analytics to enhance monitoring and forecasting capabilities.