Latest news with #SatixFy
Business Wire
23-05-2025
- Business
- Business Wire
SatixFy Shareholders Overwhelmingly Approve Proposed Acquisition by MDA Space
REHOVOT, Israel--(BUSINESS WIRE)-- SatixFy Communications Ltd. ('SatixFy' or the 'Company') (NYSE American: SATX), today announced that at a special meeting of shareholders (the"Meeting ') on May 23, 2025, holders of the majority of outstanding ordinary shares of SatixFy voted to approve the Agreement and Plan of Merger (the ' Merger Agreement ') with MDA Space Ltd. (' MDA Space '), as amended and announced on May 20, 2025, pursuant to which MDA Space agreed to acquire SatixFy in an all-cash transaction (the " Merger"). Over 99% of the Company's outstanding ordinary shares that were voted at the Meeting in person or by proxy were voted in favor of the adoption of the Merger Agreement and the Merger. "We are pleased that an overwhelming majority of SatixFy shareholders support our merger with MDA Space," said Nir Barkan, Chief Executive Officer of SatixFy. "This significant milestone in the process is confirmation of the shareholder value created by this strategic transaction, and of the strong strategic fit of SatixFy within MDA Space as the market continues to transition from analog to digital technologies.' Forward-Looking Statements This news release contains forward‐looking information within the meaning of applicable securities legislation, which reflects SatixFy's current expectations regarding future events. Forward-looking statements in this news release include, but are not limited to, statements with respect to: the anticipated timing of completion of the Merger and closing; and statements made by the Chief Executive Officer of SatixFy. In particular, there can be no assurance that the Merger between MDA Space and SatixFy will be completed on the terms of the Merger Agreement, if at all. Forward‐looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the control of SatixFy, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking information, including: approvals required in connection with the Merger; the satisfaction or waiver of the closing conditions of the Merger (if at all); adverse changes in applicable laws or regulations; results of operations and performance. While SatixFy considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Additional risks and uncertainties applicable include, but are not limited to, the factors discussed under 'Risk Factors' in SatixFy's Annual Report on Form 20-F for the year ended December 31, 2024 filed with the SEC on April 1, 2025, as amended, and other documents filed with or furnished to the SEC which are available on the SEC's website, SatixFy does not undertake any obligation to update such forward–looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. About SatixFy SatixFy develops chips and systems that serve the full satellite communication value chain from gateways through payload subsystems and terminals. Our cutting-edge space grade chipset supports next-generation satellite communications systems, including satellite multi-beam digital space antennas, space processors flat panel user terminals and modems, based on powerful in-house designed chipsets. SatixFy's products include modems that feature Software Defined Radio (SDR) and Fully Electronically Steered Multi Beam Antennas (ESMA) that support the advanced communications standard DVB-S2X and RCS2. SatixFy's innovative ASICs improve the overall performance of satellite communications systems, reduce the weight and power requirements of terminals and payloads, and save real estate for gateway equipment. SatixFy's advanced VSATs and multi-beam fully electronically steered antenna arrays are optimized for a variety of mobile applications and services, prepared for multi-orbits LEO, MEO and GEO satellite communications systems, for aero/in-flight connectivity systems, communications-on-the-move applications and more. For more information, please visit About MDA Space Building the space between proven and possible, MDA Space (TSX:MDA) is a trusted mission partner to the global space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The MDA Space team of more than 3,400 space experts in Canada, the US and the UK has the knowledge and know-how to turn an audacious customer vision into an achievable mission – bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that's been in our DNA since day one. For those who dream big and push boundaries on the ground and in the stars to change the world for the better, MDA Space will take you there. For more information, visit SAT-COM
Business Wire
22-05-2025
- Business
- Business Wire
SatixFy Announces First Quarter 2025 Results
REHOVOT, Israel--(BUSINESS WIRE)-- SatixFy Communications Ltd. (the 'Company' or 'SatixFy') (NYSE American: SATX), a leader in next-generation satellite communication systems based on in-house-developed chipsets, has released its consolidated financial results as of and for the quarter ended March 31, 2025. Financial Highlights for the First Quarter of 2025 Total revenues for the first quarter of 2025 were $4.9 million, an increase of 158% compared to $1.9 million for the first quarter of 2024. Revenues from development services and preproduction were $4.0 million, an increase of 167% compared to $1.5 million in the same period of 2024. Revenues from the sale of products were $0.9 million, an increase of 122% compared to $0.4 million in the first quarter of 2024. Gross profit for the first quarter of 2025 was $2.9 million, an increase of 82% compared to $1.6 million for the same period in 2024. Gross margin for the quarter was 59%, compared to 83% in the first quarter of 2024. The first quarter of 2024 margin was particularly high due to delivery of high margin non-recurring engineering work. Operating loss for the first quarter of 2025 was $6.1 million, an improvement of 20% compared to $7.7 million in the first quarter of 2024, reflecting increased revenue. Expenses Breakdown: Research and development expenses, net ('R&D') for the first quarter of 2025 were $6.4 million, compared to $6.8 million for the same period in 2024. Gross R&D expenditure decreased by $0.9 million, mostly attributed to lower tape-out costs and post-silicon costs in the quarter compared with the first quarter of 2024. Additionally, net R&D expenses were impacted by a decrease in grants from the European Space Agency ('ESA') and UK Research and Development Expenditure Credit tax credits, which were recorded as offsets to R&D expenses of $0.9 million. Selling and marketing expenses for the first quarter of 2025 were $0.3 million, compared to $0.5 million in the first quarter of 2024. General and administrative expenses for the first quarter of 2025 were $2.3 million, compared to $1.9 million for the same period in 2024. Net loss for the first quarter of 2025 was $10.3 million, an improvement of 9% compared to $11.3 million for the first quarter of 2024, primarily as a result of increased revenue in the quarter. Cash and cash equivalents as of March 31, 2025, amounted to $7.8 million, compared to $14.4 million as of December 31, 2024. Nir Barkan, Chief Executive Officer of SatixFy, commented, 'We are pleased with the strong momentum we have shown in the first quarter, with revenue growing 158% year over year. We are also happy with our lower operating loss which decreased by 20% year over year, reflecting our improving revenue growth coupled with lower operating expenses.' Mr. Barkan continued, 'Our company is firmly positioned as the global leader in space-grade chip technology, with standout innovations like our advanced processor, digital multi-beam chip and unique solutions including landing stations and terminals. We have successfully stabilized and grown the business, and we are now looking forward to and on the path to an exciting new chapter.' About SatixFy SatixFy develops end-to-end next-generation satellite space and ground communications systems, including satellite multi beam digital antennas, user terminals and modems, based on powerful chipsets that it develops in house. SatixFy's products include modems that feature Software Defined Radio (SDR) and Fully Electronically Steered Multi Beam Antennas (ESMA) that support the advanced communications standard DVB-S2X. SatixFy's innovative ASICs improve the overall performance of satellite communications systems, reduce the weight and power requirements of terminals and payloads, and save real estate for gateway equipment. SatixFy's advanced Very Small Aperture Terminal and multi-beam fully electronically steered antenna arrays are optimized for a variety of mobile applications and services, using low earth orbit, Medium Earth Orbit and Geostationary satellite communications systems, for aero/in-flight connectivity systems, high-end communications-on-the-move applications, and more. SatixFy is headquartered in Rehovot, Israel with additional offices in the UK, US and Bulgaria. For more information, please refer to Forward-Looking Statements This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. For example, SatixFy is using forward-looking statements in this press release when it discusses the company's momentum, position as the global leader in space-grade chip technology and that the path to an exciting new chapter. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, among others: the Company's planned level of revenues and capital expenditures; the Company's available cash and its ability to obtain additional funding; the Company's ability to market and sell its products; legal and regulatory developments in the United States and other countries; the Company's ability to maintain its relationships with suppliers, distributors and other partners; the Company's ability to maintain or protect the validity of its patents and other intellectual property; political, economic and military instability in the Middle East, specifically in Israel; as well as those factors set forth in the Risk Factors section of the Company's Annual Report on Form 20-F, filed with the Securities and Exchange Commission on April 1, 2025 (the 'SEC'), as amended, and other documents filed with or furnished to the SEC which are available on the SEC's website, The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. SAT-FIN
Yahoo
22-05-2025
- Business
- Yahoo
SatixFy Announces First Quarter 2025 Results
REHOVOT, Israel, May 22, 2025--(BUSINESS WIRE)--SatixFy Communications Ltd. (the "Company" or "SatixFy") (NYSE American: SATX), a leader in next-generation satellite communication systems based on in-house-developed chipsets, has released its consolidated financial results as of and for the quarter ended March 31, 2025. Financial Highlights for the First Quarter of 2025 Total revenues for the first quarter of 2025 were $4.9 million, an increase of 158% compared to $1.9 million for the first quarter of 2024. Revenues from development services and preproduction were $4.0 million, an increase of 167% compared to $1.5 million in the same period of 2024. Revenues from the sale of products were $0.9 million, an increase of 122% compared to $0.4 million in the first quarter of 2024. Gross profit for the first quarter of 2025 was $2.9 million, an increase of 82% compared to $1.6 million for the same period in 2024. Gross margin for the quarter was 59%, compared to 83% in the first quarter of 2024. The first quarter of 2024 margin was particularly high due to delivery of high margin non-recurring engineering work. Operating loss for the first quarter of 2025 was $6.1 million, an improvement of 20% compared to $7.7 million in the first quarter of 2024, reflecting increased revenue. Expenses Breakdown: Research and development expenses, net ("R&D") for the first quarter of 2025 were $6.4 million, compared to $6.8 million for the same period in 2024. Gross R&D expenditure decreased by $0.9 million, mostly attributed to lower tape-out costs and post-silicon costs in the quarter compared with the first quarter of 2024. Additionally, net R&D expenses were impacted by a decrease in grants from the European Space Agency ("ESA") and UK Research and Development Expenditure Credit tax credits, which were recorded as offsets to R&D expenses of $0.9 million. Selling and marketing expenses for the first quarter of 2025 were $0.3 million, compared to $0.5 million in the first quarter of 2024. General and administrative expenses for the first quarter of 2025 were $2.3 million, compared to $1.9 million for the same period in 2024. Net loss for the first quarter of 2025 was $10.3 million, an improvement of 9% compared to $11.3 million for the first quarter of 2024, primarily as a result of increased revenue in the quarter. Cash and cash equivalents as of March 31, 2025, amounted to $7.8 million, compared to $14.4 million as of December 31, 2024. Nir Barkan, Chief Executive Officer of SatixFy, commented, "We are pleased with the strong momentum we have shown in the first quarter, with revenue growing 158% year over year. We are also happy with our lower operating loss which decreased by 20% year over year, reflecting our improving revenue growth coupled with lower operating expenses." Mr. Barkan continued, "Our company is firmly positioned as the global leader in space-grade chip technology, with standout innovations like our advanced processor, digital multi-beam chip and unique solutions including landing stations and terminals. We have successfully stabilized and grown the business, and we are now looking forward to and on the path to an exciting new chapter." About SatixFy SatixFy develops end-to-end next-generation satellite space and ground communications systems, including satellite multi beam digital antennas, user terminals and modems, based on powerful chipsets that it develops in house. SatixFy's products include modems that feature Software Defined Radio (SDR) and Fully Electronically Steered Multi Beam Antennas (ESMA) that support the advanced communications standard DVB-S2X. SatixFy's innovative ASICs improve the overall performance of satellite communications systems, reduce the weight and power requirements of terminals and payloads, and save real estate for gateway equipment. SatixFy's advanced Very Small Aperture Terminal and multi-beam fully electronically steered antenna arrays are optimized for a variety of mobile applications and services, using low earth orbit, Medium Earth Orbit and Geostationary satellite communications systems, for aero/in-flight connectivity systems, high-end communications-on-the-move applications, and more. SatixFy is headquartered in Rehovot, Israel with additional offices in the UK, US and Bulgaria. For more information, please refer to Forward-Looking Statements This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. For example, SatixFy is using forward-looking statements in this press release when it discusses the company's momentum, position as the global leader in space-grade chip technology and that the path to an exciting new chapter. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, among others: the Company's planned level of revenues and capital expenditures; the Company's available cash and its ability to obtain additional funding; the Company's ability to market and sell its products; legal and regulatory developments in the United States and other countries; the Company's ability to maintain its relationships with suppliers, distributors and other partners; the Company's ability to maintain or protect the validity of its patents and other intellectual property; political, economic and military instability in the Middle East, specifically in Israel; as well as those factors set forth in the Risk Factors section of the Company's Annual Report on Form 20-F, filed with the Securities and Exchange Commission on April 1, 2025 (the "SEC"), as amended, and other documents filed with or furnished to the SEC which are available on the SEC's website, The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. SAT-FIN UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (in thousands of USD) March 31, March 31, December 31, 2025 2024 2024 Audited ASSETS: CURRENT ASSETS: Cash and cash equivalents 7,810 10,056 14,433 Trade accounts receivable 3,275 1,266 3,905 Contract assets 1,291 3,451 1,486 Prepaid expenses and other 3,106 2,291 2,570 Government departments and agencies receivables 4,996 3,691 5,888 Related parties 70 108 46 Promissory notes - 11,420 - Inventory 1,738 1,604 1,279 Total current assets 22,286 33,887 29,607 NON-CURRENT ASSETS: Other long-term receivables - 2,000 - Right-of-use assets, net 1,522 2,027 1,679 Property, plant and equipment, net 2,825 1,539 2,284 Investment in Jet Talk Ltd 1,517 1,547 1,518 Long term deposits 182 184 186 Total non-current assets 6,046 7,297 5,667 TOTAL ASSETS 28,332 41,184 35,274 UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (in thousands of USD) March 31, March 31, December 31, 2025 2024 2024 Audited LIABILITIES AND SHAREHOLDERS' DEFICIT: CURRENT LIABILITIES: Trade payables 3,806 1,601 3,121 Current portion of long-term bank loans, net 70,944 - - Contract liabilities 223 1,086 186 ESA advance payments 1,073 3,174 1,264 Prepayment from customer 8,416 3,683 8,381 Advanced payments from MDA Ltd. against future orders 42,076 28,886 39,296 Lease liabilities 782 663 786 Other accounts payable and accrued expenses 4,782 5,425 8,340 Related parties 750 550 616 Total current liabilities 132,852 45,068 61,990 NON-CURRENT LIABILITIES: Long term loans from financial institutions, net - 62,702 67,691 Lease liabilities 1,202 1,832 1,392 Derivatives instruments liabilities 5,719 114 5,719 Liability for royalties payable 774 1,196 774 Total non-current liabilities 7,695 65,844 75,576 SHAREHOLDERS' DEFICIT: Share capital - - - Share premium 453,601 451,436 453,252 Capital reserves 1,444 1,444 1,444 Accumulated deficit (567,260) (522,608) (556,988) Total shareholders' deficit (112,215) (69,728) (102,292) TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT 28,332 41,184 35,274 UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (in thousands of USD) Three months ended March 31, 2025 2024 Revenues: Development services and preproduction 4,049 1,518 Sale of products 863 388 Total revenues 4,912 1,906 Cost of sales and services: Development services and preproduction 1,913 249 Sale of products 113 73 Total cost of sales and services 2,026 322 Gross profit 2,886 1,584 Research and development expenses, net 6,432 6,798 Selling and marketing expenses 322 525 General and administrative expenses 2,264 1,926 Loss from operations 6,132 7,665 Finance income - 48 Finance expenses (4,140) (3,662) Company's share in the loss of a company accounted by equity method, net - (4) Loss before income taxes (10,272) (11,283) Income taxes - - Loss for the period (10,272) (11,283) Total comprehensive loss for the period (10,272) (11,283) Basic and diluted loss per share (in dollars) (0.12) (0.14) Basic and diluted weighted average ordinary shares outstanding 86,849 83,423 View source version on Contacts Investor Contacts:Kenny Green & Ehud Helft, EK Global IR, satixfy@ Media Contact:Aviv Sax Nahamoni, info@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
20-05-2025
- Business
- Globe and Mail
MDA Space and SatixFy Announce Amended Merger Agreement for Increased Consideration and Postponement of Shareholder Meeting
BRAMPTON, ON , May 20, 2025 /CNW/ - MDA Space Ltd. (TSX: MDA), a trusted mission partner to the rapidly expanding global space industry, and SatixFy Communications Ltd. (NYSE American: SATX), a leader in next-generation satellite communication systems based on in-house-developed chipsets, today announced that they have agreed to amend the terms of the Agreement and Plan of Merger (the " Merger Agreement"), dated April 1, 2025 among SatixFy Communications Ltd. (" SatixFy"), MDA Space Ltd. (" MDA") and certain subsidiaries, pursuant to which MDA agreed to acquire SatixFy in an all-cash transaction for US$2.10 (without interest) per ordinary share, which implied an aggregate equity value for the Company of approximately US$193 million . The amendment follows a go-shop process, conducted by SatixFy with the assistance of its financial advisor TD Securities ( USA ) LLC, in which approximately 75 third parties were contacted to determine whether they had an interest in making an Acquisition Proposal (as such term is defined in the Merger Agreement). The "go-shop" period under the Merger Agreement expired at 11:59 p.m. ET on May 16, 2025. As a result of this process, SatixFy received during the "go-shop" period an Acquisition Proposal from a third-party (the " Go-Shop Party" and the " Go-Shop Proposal", respectively) to acquire all of the outstanding shares of SatixFy in an all-stock transaction, consisting of a number of the Go-Shop Party's shares that would imply aggregate equity consideration of approximately US$233.5 million , or approximately US$2.53 per ordinary share. Furthermore, the exchange ratio, on the basis of which the consideration pursuant to the Go-Shop Proposal would be calculated, featured a collar such that the ratio between the SatixFy shares and the Go-Shop Party stock consideration would remain fixed despite any increase in the Go-Shop Party's trading price to enable the holders of SatixFy's ordinary shares to participate in up to a 10% increase, and would be adjusted in the event of any decrease in the Go-Shop Party's trading price to enable the holders to receive the same aggregate value of US$233.5 million despite up to a 20% decrease. MDA disputed the validity of SatixFy's notice of the Acquisition Proposal. In response to the Go-Shop Proposal and subsequent discussions with MDA, SatixFy and MDA reached an agreement to amend the Merger Agreement to provide for a significant increase in the merger consideration to an all-cash transaction for US$3.00 (without interest) per ordinary share, which implies an aggregate equity value for the Company of approximately US$280 million . The increase in the merger consideration is based upon the commitment by the Company not to consider any other acquisition proposals for SatixFy and for SatixFy's Board of Directors (the " Board") not to change its recommendation supporting the Merger Agreement, as amended. The Board determined that the increased price per share is the best value for the shareholders of Satixfy, after taking into account various considerations including time to close and risks of delays, risks to closing, financial situation of the company, benefits of an all-cash transaction and others (the " Board Determination"). The Board unanimously reiterates its recommendation that SatixFy shareholders vote FOR the revised transaction at the Meeting (as defined below). Shareholders holding approximately 57% of SatixFy outstanding shares have entered into voting support agreements pursuant to which they have committed to vote in favor of the transaction. In connection with the Board Determination, the Board also resolved that the upcoming Special General Meeting of Shareholders to approve the Merger Agreement and related transactions which was scheduled for May 20, 2025 will be postponed to 4:00 time on May 23, 2025 to allow sufficient time under applicable laws, rules and regulations for the announcement and distribution of the disclosures set forth herein. There is currently no change to the location, the record date, the purpose or any of the proposals to be acted upon at the Special General Meeting of Shareholders, except as set forth in this press release. Forward-Looking Statements This news release contains forward‐looking information within the meaning of applicable securities legislation, which reflects MDA Space's and SatixFy's current expectations regarding future events. Forward-looking statements in this news release include, but are not limited to, statements with respect to: the consideration to be received by SatixFy's shareholders; the go-shop process during the Go-Shop Period (as defined in the Merger Agreement); compliance by MDA Space and SatixFy with various covenants contained in the Merger Agreement; the receipt of regulatory approvals and the satisfaction of the closing conditions of the transaction; and the anticipated timing for SatixFy's shareholders' meeting and completion of the transaction. In particular, there can be no assurance that the Transaction will be completed on the terms described herein, if at all. Forward‐looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the control of MDA Space and SatixFy, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking information, including: approvals required in connection with the transaction; compliance with the voting support agreements; the satisfaction or waiver of the closing conditions of the transaction (if at all); adverse changes in applicable laws or regulations; delay or inability of MDA Space to pay the consideration contemplated by the Merger Agreement; expected growth; results of operations; performance; industry trends and growth opportunities. While MDA Space and SatixFy consider these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Additional risks and uncertainties applicable to MDA Space include, but are not limited to, the factors discussed under "Risk Factors" in the MDA Space Annual Information Form (AIF) dated March 7, 2025 and available on SEDAR+ at Additional risks and uncertainties applicable to SatixFy include, but are not limited to, the factors discussed under "Risk Factors" in SatixFy's Annual Report on Form 20-F for the year ended December 31, 2024 filed with the SEC on April 1, 2025 , as amended, and other documents filed with or furnished to the SEC which are available on the SEC's website, Neither MDA Space nor SatixFy undertakes any obligation to update such forward‐looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. In connection with this transaction, SatixFy has submitted a proxy statement and form of proxy card to the SEC. Investors are urged to read these materials carefully because they contain important information about SatixFy and this transaction subject to the amendments contemplated referenced herein. The proxy statement, proxy card and certain other relevant materials and any other documents submitted by SatixFy to SEC may be obtained free of charge at the SEC's website at Investors are urged to read the proxy statement and the other relevant materials carefully before making any voting or investment decision with respect to this transaction. ABOUT MDA SPACE Building the space between proven and possible, MDA Space (TSX:MDA) is a trusted mission partner to the global space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The MDA Space team of more than 3,400 space experts in Canada , the US and the UK has the knowledge and know-how to turn an audacious customer vision into an achievable mission – bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that's been in our DNA since day one. For those who dream big and push boundaries on the ground and in the stars to change the world for the better, we'll take you there. For more information, visit ABOUT SATIXFY SatixFy develops chips and systems that serve the full satellite communication value chain from gateways through payload subsystems and terminals. Our cutting-edge space grade chipset supports next-generation satellite communications systems, including satellite multi-beam digital space antennas, space processors flat panel user terminals and modems, based on powerful in-house designed chipsets. SatixFy's products include modems that feature Software Defined Radio (SDR) and Fully Electronically Steered Multi Beam Antennas (ESMA) that support the advanced communications standard DVB-S2X and RCS2. SatixFy's innovative ASICs improve the overall performance of satellite communications systems, reduce the weight and power requirements of terminals and payloads, and save real estate for gateway equipment. SatixFy's advanced VSATs and multi-beam fully electronically steered antenna arrays are optimized for a variety of mobile applications and services, prepared for multi-orbits LEO, MEO and GEO satellite communications systems, for aero/in-flight connectivity systems, communications-on-the-move applications and more. For more information, please visit SOURCE MDA Space
Winnipeg Free Press
20-05-2025
- Business
- Winnipeg Free Press
MDA Space raises offer for SatixFy Communications after rival bid
BRAMPTON – MDA Space Ltd. is increasing its takeover offer for SatixFy Communications Ltd. after the Israeli company received a rival bid. Under the new offer, MDA will pay US$3 per share in cash in an offer that implies a total equity value of US$280 million for SatixFy. The proposal is up from MDA's offer in April of $2.10 per share which implied a total equity value of about US$193 million. SatixFy is a maker of chips for satellite communication systems. MDA says the SatixFy board has recommended shareholders support the deal and that shareholders holding about 57 per cent of SatixFy's shares have agreed to vote in favour of the transaction. In connection with the board determination, MDA says a shareholder meeting to vote on the deal set for Tuesday has been postponed to Friday. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. This report by The Canadian Press was first published May 20, 2025. Companies in this story: (TSX:MDA)
