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Space company Maxar Technologies $MAXR 51.50, +28.40, +122.9% confirm it will be acquired by private equity firm Advent Int’l for $6.4 bln, or $53/share in cash

The U.S. government’s primary supplier of satellite imagery

Separately from its satellite imaging business, Maxar also operates a satellite factory in Palo Alto, California, a business that delivered more than 100 large geostationary communications satellites over the past three decades but has faced headwinds from declining commercial orders and has been pursuing defense and intelligence contracts.

As a private company, Maxar said, it will be better positioned to successfully deploy a $600 million next-generation WorldView Legion imaging constellation, a program that has been plagued by delays.