Maxar could sell space robotics business

WESTMINSTER — Maxar Technologies Inc. (NYSE: MAXR), a Westminster-headquartered satellite imagery firm, is considering selling off its space robotics business unit, according to a Friday report from Reuters.

The report cites “people familiar with the matter” as the source of the information about the potential sale, which could be worth as much as $1 billion.

Selling the robotics unit would provide Maxar a much-needed cash influx. The company’s debt is roughly $3.2 billion.

SPONSORED CONTENT

Select your Republic Services residential cart now!

In preparation for Republic Services becoming the primary provider of residential recycling, yard trimmings, and trash, residents should now select the best cart size and service schedule for their household needs.

Maxar reported a $59 million loss for the first quarter of fiscal year 2019 after posting a $15 million profit during the same period last year.

When the company’s quarterly results were announced in May, Maxar CEO Dan Jablonsky said the firm was committed to “creating a leaner, more agile organization with a reduced cost structure.”

Maxar faced a significant setback in January when its  WorldView-4 satellite malfunctioned and failed, resulting in millions of dollars of lost revenue.