Advent International, a major global private equity investor, agreed to acquire Maxar Technologies (NYSE:MAXR), a provider of space solutions and secure, precise, geospatial intelligence, in an all-cash transaction that values Maxar at an enterprise value of approximately $6.4 billion, representing a premium of approximately 129% over Maxar’s closing stock price of $23.10 on December 15, 2022..
Following the close of the transaction, Maxar will is to remain a U.S.-controlled and privately-operated company.
Maxar said that as a private company it will be able to accelerate investments in next-generation satellite technologies and data insights that are vital to its government and commercial customers, as well as pursue select, strategic M&A to further enhance its portfolio of solutions. This includes supporting the successful delivery of the new Legion satellite constellation, accelerating the launch of Legion 7 and 8 satellites and further growing the Earth Intelligence and Space Infrastructure businesses through investments in next-generation capabilities, such as advanced machine learning and 3D mapping.
Advent, which has approximately $28 billion invested across the defense, security and cybersecurity sectors in the last three years, said it has substantial expertise supporting many satellite and defense platforms which serve the U.S. government and its allies as well as companies across the globe.
“This transaction delivers immediate and certain value to our stockholders at a substantial premium,” said General Howell M. Estes, III (USAF Retired), Chair of Maxar’s Board of Directors. “Maxar’s mission has never been more important, and this transaction allows us to maximize value for stockholders while accelerating the Company’s ability to deliver its mission-critical technology and solutions to customers over the near and long term.”
“Today’s announcement is an exceptional outcome for stockholders and is a testament to the hard work and dedication of our team, the value Maxar has created and the reputation we have built in our industry,” said Daniel Jablonsky, President and CEO of Maxar. “Advent has a proven record of strengthening its portfolio companies and a desire to support Maxar in advancing our long-term strategic objectives. As a private company, we will have enhanced flexibility and additional resources to build on Maxar’s strong foundation, further scale operations and capture the significant opportunities in a rapidly expanding market.”
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