Maxar Doubles Down on Satellite Imagery with Acquisition
Maxar Technologies (NYSE: MAXR) -- which after the sale of its MDA subsidiary, derives twice as much of its revenue from satellite imaging as from satellite construction -- is doubling down on this much more profitable side of its business.
Maxar already owns half of 3D data and analytics company Vricon: On Wednesday, it announced that it will spend $140 million to acquire the rest. To raise the cash needed to complete the purchase, Maxar said it was selling $150 million worth of senior secured notes (i.e. debt) that will pay an annual interest rate of 7.5%.
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