The deal announced on Friday sparked a more than 45 percent
surge in both Telesat's Canadian and US shares, putting them on track for their
best day ever. MDA, meanwhile, rose about 29 percent.
Telesat said it had earmarked $3.5 billion as capital
expenditure for the Lightspeed project and that the MDA deal had helped it save
$2 billion.
The launches are scheduled to commence in mid-2026, with
polar and global services scheduled to begin in late 2027.
By using MDA's beam-forming array antennas and integrated
regenerative processor, the redesigned Telesat Lightspeed network will achieve
increased network efficiency and enhanced flexibility to focus and deliver
capacity to users, the company said in a statement.
The technology would also allow each satellite to be
slightly smaller than the ones Telesat was previously considering.
Telesat's Lightspeed network is designed to serve the
connectivity requirements of enterprise and government users, with highly
secure, resilient, low-latency broadband connectivity anywhere in the world.
The company launched its first LEO 3 demonstration satellite
aboard Rocket Lab's Electron rocket in July.
Telesat earlier on Friday also reported second-quarter
results. The company posted a profit of CAD 519.9 million, compared with a
year-ago loss of CAD 4.38 million Revenue fell 4 percent.
© Reuters
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