MDA Space has signed a definitive agreement to acquire Blue Canyon Technologies from RTX’s Raytheon business unit in a $620 million all-cash deal.
The transaction gives Canada-based MDA Space a larger foothold in the US defense space market and adds a spacecraft and satellite components business with more than 400 employees and two manufacturing facilities in the Denver area.
MDA Space announced the deal on June 19, 2026. The company said the transaction is expected to close by the end of 2026, subject to customary closing conditions and required regulatory approvals.
Blue Canyon Technologies was founded in 2008 and manufactures spacecraft, satellite components and mission services for government and commercial customers.
MDA Space said Blue Canyon has supported more than 85 spacecraft launches and has more than 3,500 products on orbit. The company said the acquisition will add about $3.5 billion to its sales pipeline.
“The acquisition of Blue Canyon Technologies is expected to accelerate our growth strategy by increasing our US market opportunities with highly complementary capabilities, local manufacturing footprint and a skilled and specialized talent base,” MDA Space CEO Mike Greenley said.
MDA Space said Blue Canyon is profitable and cash-generating and expects it to boost its earnings in 2027.
The deal marks another ownership change for Blue Canyon less than six years after Raytheon Technologies agreed to buy the small satellite company. Raytheon announced the acquisition in November 2020, and the deal closed in December 2020. The deal at that time was valued at about $350 million.
Raytheon said in 2020 that Blue Canyon would report into Raytheon Intelligence & Space. RTX later reorganized its businesses and Blue Canyon is currently part of Raytheon.