SatixFy Communications Shares Lift Off in Premarket Trading on $193 Mln MDA Space Buyout

Dow Jones

01 Apr

By Adriano Marchese

SatixFy Communications shares soared in premarket trading after MDA Space said it would acquire the business for $193 million.

Shares traded 66% higher at $1.99.

The two companies said Tuesday that MDA, a Canadian space technology company, will pay $2.10 for each SatixFy share. SatixFy shares have been under pressure in 2025, down about 22% since the year began. The stock closed at $1.20 a share on Monday.

MDA aims to bolster its end-to-end satellite systems offering as demand for new digital satellite communications continues to accelerate.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

April 01, 2025 08:54 ET (12:54 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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