MDA Space to acquire Blue Canyon for $620 million

Canadian space technology company MDA Space Ltd. has agreed to acquire U.S.-based Blue Canyon Technologies LLC for $620 million in cash, a strategic move aimed at securing a stronger foothold in the lucrative U.S. defense market. The deal was announced on Friday, June 19, 2026.

MDA Space will purchase Blue Canyon, a spacecraft and satellite component manufacturer, from RTX Corp.'s Raytheon business unit. The transaction is expected to close by the end of this year, pending regulatory approvals including a review by the Committee on Foreign Investment in the United States (CFIUS).

The acquisition provides MDA with a direct pathway to pursue classified U.S. defense contracts, a capability the Canadian firm previously lacked. Blue Canyon holds a security clearance, and approximately 75 percent of its revenue is defense-related. MDA CEO Mike Greenley told analysts the deal creates a strategic foothold in the world's largest defense market, allowing the company to compete for prime contracts independently rather than solely as a supplier.

Blue Canyon, founded in 2008 and acquired by RTX in 2020, employs more than 400 people and operates two manufacturing facilities in Denver,...