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.

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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.