Strategic Transaction Announcement: MDA Space Enters into Firm Offer to Acquire Majority Stake in CLS Alongside CNES (French Space Agency)

CLS, a leading international provider of space-based solutions dedicated to understanding, protecting the planet and enabling the sustainable management of natural resources, announces a new milestone in its global growth strategy.

Following the process initiated over the past several months, MDA Space, a Canadian company and trusted mission partner to the rapidly expanding global space industry, has made a firm offer to acquire a 70% majority interest in CLS. Under the proposed transaction, CNES would retain a 30% ownership stake, reaffirming its long-standing commitment to the company.

Completion of the transaction is subject to completion of customary French mandatory information and consultation procedures, the signing of the definitive purchase agreement, and all required regulatory approvals. The transaction is expected to close in late 2026 or early 2027.

Key Highlights

MDA Space would acquire a 70% majority stake in CLS; CNES would retain a 30% ownership interest.

CLS would join MDA Space to establish a highly differentiated and vertically integrated Geointelligence global leader

CLS would accelerate its development strategy by gaining access to MDA Space’s world-class Earth observation capabilities, including those from RADARSAT-2 and MDA CHORUS™.

CLS would become a global growth engine for MDA Space, bringing 14,000+ customers in approximately 150 countries with approximately 1,200 employees

The transaction would strengthen cooperation between the French and Canadian space ecosystems around a shared ambition to serve the planet through innovation and space-based technologies.

Transaction would include strong commitments aimed at preserving CLS’s footprint, jobs, centers of expertise, research and development activities.

This transaction reflects a defining moment in CLS’s history and a strategic step in MDA Space’s growth strategy. It presents a unique opportunity to establish a highly differentiated and vertically integrated Geointelligence global leader—seamlessly combining upstream satellite assets and services from MDA Space with downstream AI-driven analytics, connectivity solutions, applications and proprietary algorithms from CLS.

By joining one of the world’s leading space technology companies, CLS would advance its development strategy and gain privileged access to some of the most advanced Earth observation capabilities available today, including those from RADARSAT-2 and MDA CHORUS™. CLS would also benefit from world-class space infrastructure, ground station assets, processing capabilities and advanced technologies that will strengthen its portfolio of solutions and support the international expansion of its activities.

Through CLS’s international footprint of 14,000+ customers in approximately 150 countries, with approximately 1,200 employees, MDA Space would immediately strengthen its global presence and gain a powerful platform for commercial and operational expansion worldwide. CLS would become a preferred channel for the distribution of MDA Space Earth observation products and data, including MDA CHORUS™.

Together, MDA Space and CLS offer a uniquely integrated value proposition spanning the entire space value chain — from the design and operation of satellites through to the transformation of space-based data into mission critical operational solutions. By joining a global space technology leader, CLS would further strengthen its ability to address growing customer needs in environmental monitoring, climate intelligence, maritime security, sustainable fisheries management, mobility, energy and infrastructure markets.

Beyond the business integration, this transaction would mark a new chapter in cooperation between the French and Canadian space ecosystems. It should be noted that Canada is the European Space Agency’s (ESA) only non-European Cooperating State, underscoring the long-standing partnership between Canada and Europe in the space sector. With strong commitments aimed at preserving CLS’s footprint, jobs, centers of expertise, research and development activities, this transaction would enable enhanced cooperation between the French and Canadian space sectors and contribute to the emergence of an internationally leading organization supported by two major space-faring nations.

Stéphanie Limouzin, President, CLS

« This transaction would open an exciting new chapter for CLS. I would like to thank CNP and CNES for their trust and support over the past six years, a period during which CLS has more than doubled in size through strong organic growth and strategic acquisitions.

By joining MDA Space, we would become part of a world-class space technology group while preserving what makes us unique: our mission, our culture and our international footprint. This partnership would give us access to some of the most advanced space capabilities in the world, enabling us to accelerate innovation, strengthen our offerings and further expand our international reach. I am also delighted to embark on this new journey alongside the teams of CLS and MDA Space, whose expertise, commitment and innovative spirit will be key drivers of our collective success. »

Mike Greenley, Chief Executive Officer, MDA Space

« The combination of MDA Space and CLS represents a unique opportunity to create one of the world’s leading integrated geospatial services organizations. CLS would bring recognized expertise, a global customer base, a unique international footprint and an exceptional ability to transform space-based data into operational solutions. Together, we would bring together the best of two national champions to build an unmatched global geointelligence business while preserving strategic capabilities, centers of excellence and jobs across both CLS and MDA Space. »

Marie-Astrid Ravon Berenguer, Deputy Chief Executive Officer and General Secretary, CNES – French National Space Agency

« Since its creation by CNES 40 years ago, CLS has become a global reference in space-based applications serving the planet. By remaining a shareholder of the Company, CNES reaffirms its confidence in CLS’s strategy, its teams and its development potential. This project has been developed through close dialogue with all relevant stakeholders to balance CLS’s international growth ambitions with the preservation of its strategic assets for France. This partnership with MDA Space would open new industrial, technological and international opportunities while ensuring the protection of France’s strategic interests. »

Xavier Le Clef, Chief Executive Officer, Compagnie Nationale à Portefeuille (CNP)

« Since becoming a shareholder of CLS in 2020, we have supported an impressive growth trajectory driven by innovation, organic growth, acquisitions, international expansion and the development of new areas of expertise. I would like to recognize the commitment of CLS’s teams, as well as the continued support of CNES, both of which have played a significant role in this collective success. We are particularly proud of what has been achieved alongside the teams of CLS and CNES. We have the conviction that MDA Space would enable the Group to pursue its global ambitions and unlock its full potential. »