MDA Space Inks C$1.1 Bln Contract With Globalstar For Next-Gen Low Earth Orbit Constellation

(RTTNews) - MDA Space Ltd. (MDA.TO), a trusted mission partner to the space industry, announced Monday that it has signed a definitive contract with Globalstar, Inc. (GSAT) to be the prime contractor for the satellite operator's next generation low Earth orbit (LEO) constellation. The total contract is valued at approximately $1.1 billion

As part of the definitive contract for the full LEO constellation, MDA Space will manufacture more than 50 MDA AURORATM software-defined digital satellites for Globalstar.

This contract is a follow-on to an initial Authorization to Proceed (ATP) contract with an undisclosed customer, previously announced on November 17, 2023.

A contract value of approximately $750 million will be added to the company's backlog in the first quarter of fiscal 2025. This amount is in addition to the ATP value of approximately $350 million that was previously added to backlog, for a total value of $1.1 billion under the definitive contract.