Maxar inks satellite deal with spy agency that could be worth billions

WESTMINSTER — Maxar Technologies Inc. (NYSE: MAXR), an aerospace equipment manufacturer and satellite operator, is one of a trio of companies that have inked deals with the U.S. National Reconnaissance Office to provide the intelligence agency with unclassified satellite images and data.

The 10-year deal is worth up to $3.24 billion.

“Maxar has been a trusted U.S. Government partner for more than two decades, and we’re proud to continue to serve that mission under Electro-Optical Commercial Layer,” Maxar CEO Dan Jablonsky said in a prepared statement. “This agreement provides a foundation for Maxar’s growth in the years ahead, as we continue through innovation and disciplined investment to meet our customers’ most demanding needs and generate long-term value for our shareholders. As always, we are committed to the mission success of our federal partners, and appreciate their longstanding trust in our capabilities, quality and reliability.”

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Electro-Optical Commercial Layer refers to images provided to intelligence agencies by private contractors. 

Maxar’s images are “mapping, mission planning, emergency response and other activities that serve the intelligence, defense and federal civil agency user communities,” the company said. 

California’s Planet Inc. and Virginia’s BlackSky Technology Inc. were also awarded work as part of the overall NRO contract.

According to disclosures filed this week with the U.S. Securities and Exchange Commission, the Maxar portion of the deal is worth as much as $300 million per year for the first five years and then $340 million per year for the remainder of term if certain conditions are met.

“Recent world events, including the war in Ukraine, have shined an unprecedented light on commercial geospatial intelligence and the value of programs such as EOCL that enable unclassified information sharing with U.S. allies and NATO partners,” Maxar said.