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March 20, 2007
MDA Takes Controlling Interest In U.K. Advanced Technology Company
Richmond, B.C. - MDA announced today that the Company has taken a controlling interest in Orbital Optics Limited (OOL) of Oxfordshire, UK. OOL holds the exclusive license to patented high-resolution optical cameras developed by the Space Science and Technology Department (SSTD) of the Rutherford Appleton Laboratory (RAL).
The investment is worth approximately £900,000.
With this investment, MDA adds a high- and medium-resolution optical payload capability to its existing radar and satcom payloads, and its turnkey satellite mission offerings.
Optical payload products include the proven and cost-effective 2.5m resolution RALCam1, which has been successfully flown on the UK government funded TopSat mission. In addition, the company offers the 10m resolution RALCam3 instrument for wide area surveillance currently being prepared for delivery to an undisclosed customer, and RALCam4, a sub-meter resolution camera. An engineering model of RALCam4 is currently in fabrication and flight testing is expected in the near future. These cameras are compatible with existing small satellite platforms and launchers, and provide customers with high capability optical imaging at an affordable price.
In addition to the strong new technical capability, MDA expects to further develop its collaboration with RAL as it expands business in Europe. RAL has fielded over 190 instruments in orbit over the last 30 years.
OOL is a spin-off company from RAL, established to commercialize the cameras. The Rainbow Seed Fund, a £8.5M fund established to commercialize R&D from UK government research organizations, initially financed the company. OOL has also benefited from investment from several other private sector sources.
Tim Bestwick, CEO of the Central Laboratory Innovation and Knowledge Transfer Limited (CLIK) commented, “I'm delighted that MDA is investing in our spin-out company. MDA's impressive background in commercial space technology makes them an ideal partner for the innovative space cameras developed at the Rutherford Appleton Laboratory, and we expect the relationship to lead to future successes for all involved.”
Steve Oldham, Vice President of Business Development for MDA Space Missions said “The proven technology offered by OOL adds to MDA’s suite of operational small satellite missions, which combine unique technology with MDA’s long standing heritage in the application of remote sensing data.”
Picture of the RALCAM installed on TopSat.
About MDA
MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.
Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of earth and space based information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
MDA employs more than 3,000 people in locations across the United States, the United Kingdom, and Canada. The Company's common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.
About Rutherford-Appleton Research Laboratory and Orbital Optics Limited
Rutherford Appleton Laboratory has over 50 years experience designing and building space instruments, with more than five successful Earth imaging systems in operation, and direct involvement in more than 150 space missions. Orbital Optics Limited currently has an instrument flying on the UK’s TOPSAT satellite.
Related Websites:
www.mdacorporation.com
www.orbitaloptics.com
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