CSG acquires 9.5% stake in MDA Space

CSG has acquired approximately 9.5% of the shares in MDA Space Ltd., a leading Canadian space technology company. This acquisition makes CSG the largest shareholder in MDA Space and marks the company's official entry into the space sector.

CSG stated that the investment is part of a long-term strategy to develop space capabilities that complement its existing defense and aerospace businesses. The company also intends to explore potential cooperation with MDA Space to support its international growth. The transaction involved strategic securities law and foreign investment review advice, including national security reviews under the Investment Canada Act.

Separately, MDA Space has seen its stock price decline by more than 43% from its May peak, amid broader pressure on the Canadian equity market. Despite the share price correction and concerns regarding cash outflows, the company reported a 33.6% year-over-year revenue increase to $498.6 million in its second quarter, driven by growth in satellite systems, robotics, and geointelligence segments.