From: Maxar Technologies
Posted: Friday, May 3, 2019
Maxar Technologies (NYSE:MAXR) (TSX:MAXR), a global technology innovator powering the new space economy, today announced that its insurance carriers have accepted the company’s $183 million claim for loss arising from the WorldView-4 satellite on-orbit failure, and have agreed to pay the company that full amount under their insurance policies.
Insurance proceeds have already been received from several insurers and full payment is expected to be delivered within 30 days. Maxar will use the proceeds to invest in its pre-existing capital priorities, including the development of its innovative WorldView Legion constellation.
The operations of DigitalGlobe, SSL and Radiant Solutions were unified under the Maxar brand in February; MDA continues to operate as an independent business unit within the Maxar organization.
About Maxar Technologies
As a global leader of advanced space technology solutions, Maxar is at the nexus of the new space economy, developing and sustaining the infrastructure and delivering the information, services, systems that unlock the promise of space for commercial and government markets. The operations of DigitalGlobe, SSL and Radiant Solutions were unified under the Maxar brand in February; MDA continues to operate as an independent business unit within the Maxar organization. As a trusted partner with 5,900 employees in over 30 global locations, Maxar provides vertically integrated capabilities and expertise including satellites, Earth imagery, robotics, geospatial data and analytics to help customers anticipate and address their most complex mission-critical challenges with confidence. Every day, billions of people rely on Maxar to communicate, share information and data, and deliver insights that Build a Better World. Maxar trades on the New York Stock Exchange and Toronto Stock Exchange as MAXR. For more information, visit www.maxar.com.
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