PALO ALTO, Calif. – MacDonald, Dettwiler and Associates Ltd. (“MDA” or the “Company”) (TSX:MDA), a global communications and information company, today announced that its subsidiary Space Systems Loral (SSL) was selected to provide a next-generation satellite constellation for high-resolution Earth imaging to DigitalGlobe, the global leader in Earth imagery and information about our changing planet. Called WorldView Legion, the Low Earth Orbit (LEO) satellites will more than double DigitalGlobe’s high-resolution capacity in important regions. The contract is valued at several hundred million U.S. dollars..
“This contract demonstrates our emerging leadership in Earth observation satellites and our broadening corporate capability to provide end-to-end solutions from the space segment to the ground segment to the delivery of decision-driving analytics,” said Richard White, president of SSL Government Systems. “We have worked closely with the DigitalGlobe team over the past several years to develop a solution that provides both the exceptional agility and persistence they require. We are very pleased to be selected.”
As a leader in providing commercial spacecraft systems, SSL has deep experience in building and integrating some of the world’s most powerful and comprehensive solutions for services such as communications, Earth observation, in-orbit servicing, space robotics, and exploration and this order further diversifies SSL’s business. WorldView Legion will be built in SSL’s manufacturing facility in Palo Alto, Calif., where the company takes an innovative approach to satellite design, assembly and test.
“SSL recognized the need to meet the evolving requirements of our customers,” said Dr. Walter Scott, DigitalGlobe Founder, EVP, and CTO. “The team at SSL worked closely with us to provide an innovative and flexible design that will yield exceptional performance, value, and reliability. WorldView Legion will provide our customers with even greater insights into global events of significance, allowing them to make critical decisions with confidence when time is of the essence.
As an innovator in global Earth imaging and data-product generation, DigitalGlobe conceived of WorldView Legion in order to transcend previous limitations and meet the evolving needs of tomorrow’s users of Earth imaging data and geospatial intelligence. The WorldView Legion constellation is designed to deliver a combination of high-resolution, sub-meter accuracy, and fast revisit rates. Combined with DigitalGlobe’s existing WorldView satellites and forthcoming Scout small-satellite constellation, DigitalGlobe will be able to image the most rapidly changing areas on Earth as frequently as every 20 to 30 minutes, from sunrise to sundown. SSL has entered into a firm-fixed price contract with DigitalGlobe to build the WorldView Legion satellites—the first of which is planned to launch in 2020—to replace the WorldView-1, WorldView-2, and GeoEye-1 satellites.
DigitalGlobe is a leading provider of commercial high-resolution Earth observation and advanced geospatial solutions that help decision makers better understand our changing planet in order to save lives, resources and time. Sourced from the world's leading constellation, its imagery solutions deliver unmatched coverage and capacity to meet its customers' most demanding mission requirements. Each day customers in defense and intelligence, public safety, civil agencies, map making and analysis, environmental monitoring, oil and gas exploration, infrastructure management, navigation technology, and providers of location-based services depend on DigitalGlobe data, information, technology and expertise to gain actionable insight. DigitalGlobe is traded on the New York Stock Exchange. (NYSE:DGI).
Space Systems Loral (SSL) is a leading provider of commercial satellites with broad expertise to support satellite operators and innovative space related missions. The company designs and manufactures spacecraft for services such as direct-to-home television, video content distribution, broadband internet, mobile communications, and Earth observation. As a Silicon Valley innovator for 60 years, SSL’s advanced product line also includes state-of-the-art small satellites, and sophisticated robotics and automation solutions for remote operations. For more information, visit www.sslmda.com.
About SSL MDA Holdings
SSL MDA Holdings is a wholly owned subsidiary of MacDonald, Dettwiler and Associates Ltd. (MDA) and serves as the operating company for all MDA businesses. SSL MDA Holdings has its headquarters in San Francisco.
MDA is a global communications and information company providing operational solutions to commercial and government organizations worldwide.
MDA’s business is focused on markets and customers with strong repeat business potential, primarily in the Communications sector and the Surveillance and Intelligence sector. In addition, the Company conducts a significant amount of advanced technology development.
MDA’s established global customer base is served by more than 4,800 employees operating from 15 locations in the United States, Canada, and internationally.
The Company’s common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.
This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. (“MDA” or the “Company”) with respect to future events and financial performance. The forward-looking statements in this regard include statements regarding the strategic business venture entered into between MDA and its business partner. Any such forward-looking statements are based on MDA’s current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. The factors and assumptions underlying the forward-looking statements in this release include, but are not limited to, certain contracts not being terminated. Any such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from current expectations. MDA cautions readers that should certain risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. The risks that could cause actual results to differ from current expectations include, but are not limited to: risks associated with executing the parties strategy and plans for securing future commercial customers; the introduction of competing technologies; unexpected technical or marketing difficulties; unexpected deterioration of economic and financial conditions; the imposition of budgetary constraints or deferment of funding for programs in which the Company or its customers participate; risks associated with satellite manufacturing, including competition, cyclicality of end-user markets, contractual risks, creditworthiness of customers, performance of suppliers and management of factory and personnel; certain customers are highly leveraged and may not fulfil their contractual payment obligations, including vendor financing; risks associated with operating satellites and providing satellite services, including satellite construction or launch delays, launch failures, in-orbit failures or impaired satellite performance; risk associated with financial factors such as volatility in exchange rates, increases in interest rates and restrictions on access to capital; failure of third parties and subcontractors; failure of systems to meet performance requirements; failure to anticipate changes in technology, technical standards and offerings or compliance with the requisite standards, or failure to maintain technological advances and offer new products to retain customers and market position; and other risks including litigation. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. Except as required by law, MDA disclaims any obligation or undertaking to update or revise the information herein.
For additional information with respect to certain of these risks or factors, plus additional risks or factors, reference should be made to the Company's continuous disclosure materials filed from time to time with Canadian securities regulatory authorities, which are available online under the Company's profile at www.sedar.com or on the Company's website at www.mdacorporation.com.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.
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