Global communications company, Maxar, rings closing bell at NYSE

Christina Medici Scolaro
Key Points
  • Maxar is a global communications and information company
  • It works to provide operational solutions to commercial and government organizations worldwide.
  • Rings closing bell at New York Stock Exchange
Maxar Technologies rings the closing bell at the NYSE

Global space company, Maxar, rang the closing bell at the New York Stock Exchange on Friday. President and chief executive officer, Howard Lance, was joined by the Maxar team to celebrate the company's value to investors, customers and employees.

In October, MacDonald, Dettwiler and Associates (MDA) and DigitalGlobe merged in a $2.4 billion deal. But before that deal, MDA and DigitalGlobe each had acquisitions of their own in the past few years. This basically means Maxar is the culmination of four companies rolled into one.

Maxar is a leading commercial supplier of advanced satellite systems, optical imagery and geospatial analytics to commercial and government customers worldwide.

The company has designs to grow earth observations and to advance the geospatial segment to better support commercial customers, the U.S. Department of Defense and Intelligence Community and International Governments.

On Friday, one of Maxar's business units, signed four contracts valued at about $42 million with the Canadian Space Agency.

It has more than 6,500 employees in over 21 global locations.

Maxar dual-listed its stock. It trades on the Toronto Stock Exchange (MDA) and the New York Stock Exchange (MAXR).

The company will pay a dividend of $0.37 per common share payable on December 29.