MDA Space secures $1.1BN deal with Globalstar for next-gen LEO satellite network

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MDA Space secures $1.1BN deal with Globalstar for next-gen LEO satellite network

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MDA Space secures $1.1BN deal with Globalstar for next-gen LEO satellite network
by Clarence Oxford
Los Angeles CA (SPX) Feb 12, 2025

MDA Space Ltd. (TSX: MDA), a leading technology partner in the global space sector, has finalized a contract with Globalstar Inc. (NYSE American: GSAT) to serve as the primary contractor for the development of the satellite operator's next-generation low Earth orbit (LEO) constellation. The agreement carries a total contract value of approximately $1.1 billion.

Under the terms of the agreement, MDA Space will manufacture over 50 MDA AURORATM software-defined digital satellites for Globalstar, reinforcing its role as a key provider of advanced space-based infrastructure.

"We are pleased to once again be working with Globalstar as they develop their next generation LEO constellation," said Mike Greenley, CEO of MDA Space. "With the full contract now in place, we are moving full speed ahead on the program."

This definitive contract follows an initial Authorization to Proceed (ATP) agreement with an undisclosed customer, which MDA previously announced on November 17, 2023.

Of the total contract value, approximately $750 million will be added to MDA's backlog in the first quarter of fiscal 2025. This sum is in addition to the previously recorded ATP value of roughly $350 million, bringing the total value of the definitive contract to $1.1 billion.

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