Maxar Technologies Announces Exercise of Call Option to Acquire Vricon, Inc.
Maxar Technologies, a trusted partner and innovator in Earth Intelligence and Space Infrastructure, announced that it has exercised its call option to take full ownership of 3D data and analytics firm Vricon, Inc., for approximately $140 million, or approximately $115 million net of estimated cash at closing. Maxar intends to fund the transaction using the proceeds from its issuance of $150 million in aggregate principal amount of new senior secured notes.
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Vricon is a global leader in satellite-derived 3D data for defense and intelligence markets, with software and products that enhance 3D mapping, Earth intelligence data, military simulation and training and precision-guided munitions. The company was formed as a joint venture between Maxar and Saab in 2015 to combine patented Saab IP with Maxar commercial satellite imagery to build highly accurate, immersive 3D products at scale.
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Maxar expects the transaction to close in July, subject to certain customary closing conditions.
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