MDA Space Ltd. announced that it entered into a firm and irrevocable offer to acquire an approximately 70 percent majority interest in Collecte Localisation Satellites, a France-based provider of AI-driven Earth observation value-added services and satellite IoT solutions. The interest would be acquired from Compagnie Nationale à Portefeuille and other shareholders of CLS’s parent company for approximately €567 million in cash, stated by MDA Space as approximately $920 million, subject to adjustments. CNES, the French space agency, would retain an approximately 30 percent interest in CLS following completion. CLS is headquartered in Toulouse, has 40 sites worldwide, employs approximately 1,200 people, serves more than 14,000 customers in approximately 150 countries, and is expected to generate approximately €286 million, stated as $465 million, in revenue in 2026. The proposed transaction is intended to combine MDA Space’s satellite and Earth observation assets, including RADARSAT-2 and MDA CHORUS, with CLS’s downstream data analytics, connectivity solutions, applications and proprietary algorithms. Completion remains subject to customary conditions, including regulatory approvals and French employee representative body information and consultation procedures. Public sources state that the transaction is expected to close by the end of 2026 or in the first quarter of 2027. Norton Rose Fulbright advised MDA Space, while Freshfields is advising CNP.