MDA Space will buy 567-million-euro majority stake in French satellite company

MDA Space is purchasing a controlling stake in Collecte Localisation Satellites (CLS), a French earth observation company, for 567 million euros ($920 million CAD) in cash. The news: Brampton-based MDA announced it will acquire an approximately 70- percent stake in CLS following market close on Wednesday evening. France’s national space agency, Centre national d’études spatiales, will hold the remaining stake.