Maxar Technologies (NYSE:MAXR) (TSX:MAXR), a partner and innovator in Earth Intelligence and Space Infrastructure, has announced that it has exercised its call option to take full ownership of 3D data and analytics firm Vricon, Inc., for approximately USD 140 million, or approximately USD 115 million net of estimated cash at closing, the company said.
Maxar intends to fund the transaction using the proceeds from its issuance of USD 150 million in aggregate principal amount of new senior secured notes.
Vricon is a provider of satellite-derived 3D data for defense and intelligence markets, with software and products that enhance 3D mapping, Earth intelligence data, military simulation and training and precision-guided munitions. The company was formed as a joint venture between Maxar and Saab in 2015 to combine patented Saab IP with Maxar commercial satellite imagery to build highly accurate, immersive 3D products at scale.
Maxar expects the transaction to close in July, subject to certain customary closing conditions. For more information, visit www.maxar.com.