SatixFy Communications , a leader in next-generation satellite communication systems based on in-house-developed chipsets, today announced that it has signed new agreements in aggregate valued at $5 million, alongside an immediate prepayment of a previously announced $5 million associated with an amendment to an existing contract with MDA Space Ltd. (“MDA Space”) (TSX: MDA), a provider of advanced technology and services to the rapidly expanding global space industry. Agreements signed further the significant collaboration between the two companies initiated in October 2023.

Under an amendment to the original Master Purchase Agreement (the “MPA Amendment”), signed in October 2023, a total of $3 million was added to the scope of the original agreement, alongside an immediate prepayment of $5 million that was previously announced but not yet paid. Additionally, an Authorization to Proceed (“ATP”) agreement was signed between SatixFy and MDA Space, which is structured around two milestone payments totaling $2 million in the aggregate and setting out the terms for future purchase orders.

Nir Barkan, Chief Executive Officer of SatixFy, commented, “MDA Space continues to be a very strong partner of SatixFy. We are very proud that our business continues to grow and expand with them, building on the $60 million transaction signed with them in October of last year. These new agreements could allow us to present significant double digit revenue growth rates next year.”

Added Mr. Barkan: “Above all, these agreements reinforce the strategic value of our technology to MDA Space and fortifies our position as a key technology provider of both space-grade chips and software for next-generation digital satellite payloads. Our expanding partnership with MDA Space demonstrates the growing demand for our solutions. It represents another milestone in our long-term growth strategy, positioning our space-grade chips as the core technology driving global communications in many of the next-generation Low Earth Orbit (‘LEO’) and Geostationary Orbit (‘GEO’) satellite constellations set to launch in the coming years.”

Source: BUSINESS WIRE