By Colin Kellaher
SatixFy Communications rose sharply Thursday after the developer of satellite-communications systems inked deals worth $60 million with Canadian space-technology company MDA.
Shares of the Rehovot, Israel, company were recently trading at 61 cents, up more than 28%, but are still about 99% below their 52-week high of $79.21 reached last November, shortly after its merger with blank-check company Endurance Acquisition.
SatixFy said it is selling SatixFy Space Systems UK, its digital-payload division, to MDA in a $40 million transaction.
SatixFy said the agreement also includes $20 million in advanced payments under new commercial agreements, including $10 million received in June.
Write to Colin Kellaher at [email protected]
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