Maxar to acquire 3D analytics firm for $140M

WESTMINSTER — Maxar Technologies Inc. (NYSE/TSX: MAXR) will purchase full control of 3D analytics firm Vricon Inc. for about $140 million.

In a statement Wednesday morning, the Westminster-based satellite maker said it would exercise its purchase option for the entirety of the Virginia-based producer of elevation maps for defense and intelligence agencies.

Vricon was formed in 2015 as a joint venture between Maxar and Saab AB, a Swedish defense contractor known best in the U.S. for its defunct automaking division.

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“This acquisition will enable training, simulation and tactical missions to be conducted in highly immersive and accurate 3D environments,” said CEO Dan Jablonsky.

Maxar plans to finance the deal by buying back $150 million in long-term debt at 9.75% interest due in 2023 and issuing the same amount in debt notes due in 2027 at 7.54% interest. The company doesn’t expect the transaction to affect its efforts to reduce its long term debt load of $2.94 billion as of the end of 2019.

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