Posted: Wednesday, March 21, 2007
Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that the Company has taken a controlling interest in Orbital Optics Limited (OOL), a commercial spin-off of the Rutherford Appleton Laboratory (RAL) based in Oxfordshire, England. The acquisition is worth approximately £900,000.
RAL created OOL as a commercial entity in April 2006; granting it the exclusive worldwide license to commercialize its proven high-resolution optical data collection technology.
According to Steve Oldham, Director of Business Development at MDA: "This acquisition not only improves MDA's ability to offer unique highly competitive solutions for small satellite mission opportunities around the world, but it also increases our content on these bids. In addition, this U.K. presence and the associated strong relationship with RAL is expected to increase our market access to European opportunities for small satellite missions."
MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.
Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of earth and space based information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
MDA employs more than 3,000 people in locations across the United States, the United Kingdom, and Canada. The Company's common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.
This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. with respect to future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties and MDA's actual results of operations could differ materially from historical results or current expectations. Additional information on these and other potential factors that could affect MDA's financial results are detailed in documents filed from time to time with the applicable Canadian securities regulatory authorities.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.
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