Ottawa space tech firm Neptec acquired for $42M

Neptec

Kanata-based Neptec Design Group, known for its sensors and cameras used on the International Space Station, has a new owner.

The local firm, which has also designed, developed and built lunar rovers for the Canadian Space Agency, says it’s been purchased by MDA (formerly MacDonald, Dettwiler and Associates Ltd.), itself a Maxar Technologies company. MDA also develops robotics technology used in space, including the Canadarm.

The firms say the deal is worth$42 million, comprised of approximately $8 million in cash and the remainder in Maxar common shares.

“Combining our capabilities with MDA creates a tremendous opportunity to win new business and continue to expand our footprint in Canada, the United Kingdom and globally,” said Neptec CEO Paul Nephin in a statement.

The Ottawa company is nearly 30 years old and has some 100 employees in Kanata and the U.K.

Neptec recently won a series of contracts with the Canadian Space Agency, collectively worth several million dollars, that it says will help it develop a new generation of cameras and sensors.