MDA completes strategic capability acquisition in the United States
Canada NewsWire
VANCOUVER, Oct. 3, 2014
VANCOUVER, Oct. 3, 2014 /CNW/ – MacDonald, Dettwiler and Associates Ltd. (“MDA” or the “Company”) (TSX:MDA), a global communications and information company, today announced that
it has closed the acquisition of Advanced Systems, a line of business
from General Dynamics Advanced Information Systems, Inc., announced in July 2014. This business will become part of MDA Information Systems LLC.
Located near Detroit, Michigan, the Advanced Systems business has
approximately 170 employees and generates annual revenues of
approximately US$40 million. The business has over 50 years of in-depth
experience in development and application of radar and other
information sensors for the U.S. Government. This unique capability is expected to strengthen the Company’s ability
to pursue future opportunities in the U.S. market.
About MDA
MDA is a global communications and information company providing
operational solutions to commercial and government organizations
worldwide.
MDA’s business is focused on markets and customers with strong repeat
business potential, primarily in the Communications sector and the
Surveillance and Intelligence sector. In addition, the Company conducts
a significant amount of advanced technology development.
MDA’s established global customer base is served by more than 4,800
employees operating from 11 locations in the United States, Canada, and
internationally.
The Company’s common shares trade on the Toronto Stock Exchange under
the symbol “MDA.”
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Forward-Looking Statements
This press release contains certain forward-looking statements and
information which reflect the current view of MacDonald, Dettwiler and
Associates Ltd. (the “Company” or “MDA”) with respect to future events
and financial performance. Forward-looking statements generally can be
identified by the use of forward-looking terminology such as “may”,
“will”, “would”, “could”, “should”, “expect”, “intend”, “estimate”,
“anticipate”, “plan”, “foresee”, “believe” or “continue”, or the
negatives of such terms or variations of them or similar terminology.
The forward-looking statements in this press release are based on MDA’s
current expectations, estimates, projections and assumptions made in
light of its experience and perception of historical trends.
Forward-looking statements are subject to risks and uncertainties, many
of which are beyond MDA’s control and the effects of which can be
difficult to predict. MDA’s actual results of operations could differ
materially from historical results or current expectations.
With regard to MDA’s acquisition of the Advanced Systems business from
General Dynamics Advanced Information Systems Inc., there can be no
assurance that MDA will realize the anticipated benefits or results due
to a variety of factors, including: the ability to promptly and
effectively integrate the businesses of MDA and that of the acquired
business; higher than anticipated integration costs; diversion of
management time on acquisition-related issues; and failure to obtain
the novation of certain government contracts. The anticipated benefits
from the acquisition, such as it being accretive to earnings, expanding
the Company’s presence and new opportunities for growth, may not be
realized in the time frame anticipated or at all as a result of several
factors including changes in general economic and market conditions,
customer demand for products and services, laws and regulations and
their enforcement, and the degree of competition in the geographic and
business areas in which the acquired business operates.
You are referred to the risk factors described in MDA’s most recent
annual Management’s Discussion and Analysis, Annual Information Form
and other documents on file with the Canadian securities regulatory
authorities, available on SEDAR, www.sedar.com or www.mdacorporation.com. All such factors should be considered carefully, as well as other
uncertainties and potential events, and the inherent uncertainty of
forward-looking statements, when making decisions with respect to MDA.
The forward-looking statements and information contained in this press
release represent MDA’s views only as of today’s date. All such
statements are made pursuant to the “safe harbour” provisions of
applicable Canadian and U.S. securities laws. MDA disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, other than as required by law, rule or regulation. You
should not place undue reliance on forward-looking statements.
The Toronto Stock Exchange has neither approved nor disapproved the form
or content of this release.
SOURCE MacDonald, Dettwiler and Associates Ltd.
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