Canadian-based satellite construction specialists MDA has increased its offer to buy satcom technology provider SatixFy by 43 percent as it faced a competing bid. The increased offer values SatixFy at $280 million (€247.9m).
Back on April 1 when the acquisition was first announced MDA had offered $2.10 per share. SatixFy then approached 75 potential bidders and received an offer of $2.53 per share although no cash would have been involved.
MDA re-entered the bidding with an offer of $280 million, or $3 per share. That offer was agreed although shareholders will vote on the terms on May 23rd.
“The Board determined that the increased price per share is the best value for the shareholders of SatixFy, after taking into account various considerations including time to close and risks of delays, risks to closing, financial situation of the company, benefits of an all-cash transaction and others,” the statement said.
SatixFy specializes in digital beam forming and beam hopping to electronically steer and shape antenna beams. It involves processing digitized signals from an array of antenna elements, manipulating their phase and amplitude to optimize radiation patterns. This method enhances flexibility, precision, and efficiency in directing satellite communication signals.
Established in 2012 by leading entrepreneurs in the satellite industry, SatixFy designs next-generation satellite communication systems based on in-house developed chipsets. With locations in Israel, UK, Bulgaria and USA, SatixFy develops a line of satellite communication modems with Software Defined Radio (SDR) and Electronically Steered Multi Beam Antennas (ESMA) to support the most advanced standards, such as DVB-S2X.
