Posted: Thursday, May 5, 2016
MacDonald, Dettwiler and Associates Ltd. (“MDA” or the “Company”) (TSX:MDA), a global communications and information company, today announced that it has been awarded a Contribution Agreement valued at CA$54 million by Innovation, Science and Economic Development under the Technology Demonstration Program (TDP). The program contributes funding towards large-scale research and development projects that typically require the integration of several different technologies and the coordination of activities of many partners. MDA will coordinate a team of Canadian partners, both in industry and academia, to develop innovative technology for space communications and space surveillance. MDA and its partners will invest significantly in the work, with the Contribution Agreement providing matching funding for eligible costs.
Don Osborne, MDA’s group vice president of Information Systems said, “This Contribution Agreement will help MDA and the other recipients to develop innovative technologies in Canada.” Osborne added, “Space has been, and continues to be, a driver of innovation. From communications satellites bringing connectivity to remote parts of Canada—to radar imaging satellites that monitor Canada’s North providing sovereignty and safe navigation in coastal waters—to robotic arms for space station and exploration of Mars and the Moon, space has been at the forefront of innovation. This TDP award is evidence of the Canadian Government’s commitment to innovation, and its recognition of the strategic importance of the space industry to Canada's future economic development.”
MDA is a global communications and information company providing operational solutions to commercial and government organizations worldwide.
MDA’s business is focused on markets and customers with strong repeat business potential, primarily in the Communications sector and the Surveillance and Intelligence sector. In addition, the Company conducts a significant amount of advanced technology development.
MDA’s established global customer base is served by more than 4,800 employees operating from 11 locations in the United States, Canada, and internationally.
The Company’s common shares trade on the Toronto Stock Exchange under the symbol “MDA.”
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