PALO ALTO, CA, Jan. 30, 2019 /PRNewswire/ - SSL, a Maxar
Technologies company (NYSE:MAXR) (TSX:MAXR), and a leading provider
of innovative satellites and spacecraft systems, today announced it
has exercised its right to terminate participation in the
Robotic Servicing of Geosynchronous Satellites (RSGS) program, a
public-private partnership with the U.S. Defense Advanced Research
Projects Agency (DARPA), citing a need to focus its resources on
ensuring optimal returns when weighed against other capital
priorities, such as WorldView Legion. SSL remains unwavering in its
commitment to its customers on all existing contracts.
SSL has notified DARPA that it has decided to discontinue its
participation in RSGS, an option available at this time under the
terms of the Other Transaction Agreement between SSL and DARPA.
This decision is consistent with Maxar's commitment to disciplined
prioritization of capital. Maxar remains confident in the potential
of the on-orbit servicing market and the value of public private
partnerships. SSL will also be terminating its associated contract
with Space Infrastructure Services LLC, which SSL was awarded in
June 2017 to develop a servicing
spacecraft vehicle for the RSGS program.
Signed in 2017, the Other Transaction Agreement called for DARPA
to develop the dexterous robotic payload and provide a
government-funded launch. SSL was responsible for funding the
development of the spacecraft bus and integrating the resulting
robotic servicing spacecraft with the launch vehicle, as well as
providing operations staff over the full mission duration.
"While disappointed that we are unable to find an economically
viable path to support RSGS and meet our return criteria, we are
dedicated to partnering with the U.S. government to realize the
full potential of in-space robotic servicing of spacecraft, as well
as assembly and manufacturing in space," said Richard White, President of SSL Government
Systems. "At Maxar, we are uniquely positioned to leverage
technology and expertise from across our businesses to accelerate
innovation for the new space economy. We are proud of our
leadership in space robotics, including our pioneering work in
NASA's Restore-L mission to refuel LANDSAT-7, and we will continue
to pursue leading-edge opportunities."
About SSL
SSL, based in Palo Alto, California, is a leading provider
of advanced spacecraft systems, with broad expertise to support
commercial and government satellite operators and innovative space
missions. The company designs and manufactures spacecraft for
services such as direct-to-home television, video content
distribution, broadband internet, mobile communications, in-orbit
servicing, space exploration, and Earth observation. As a Silicon
Valley innovator for 60 years, SSL's advanced product line includes
state-of-the-art small satellites, and sophisticated robotics and
autonomous solutions for remote operations. SSL is a Maxar
Technologies company (NYSE: MAXR) (TSX: MAXR). For more
information, visit www.sslmda.com.
About Maxar Technologies
As a global leader of
advanced space technology solutions, Maxar Technologies is at the
nexus of the new space economy, developing and sustaining the
infrastructure and delivering the information, services, systems
that unlock the promise of space for commercial and government
markets. As a trusted partner, Maxar Technologies provides
vertically integrated capabilities and expertise including
satellites, Earth imagery, robotics, geospatial data and analytics
to help customers anticipate and address their most complex
mission-critical challenges with confidence. With more than 6,100
employees in over 30 global locations, the Maxar Technologies
portfolio of commercial space brands includes MDA, SSL,
DigitalGlobe and Radiant Solutions. Every day, billions of people
rely on Maxar to communicate, share information and data, and
deliver insights that Build a Better World. Maxar trades on
the New York Stock Exchange and Toronto Stock Exchange as
MAXR. For more information, visit www.maxar.com.
Forward-Looking Statements
Certain statements and other information included in this release
constitute "forward-looking information" or "forward-looking
statements" (collectively, "forward-looking statements") under
applicable securities laws. Statements including words such as
"may", "will", "could", "should", "would", "plan", "potential",
"intend", "anticipate", "believe", "estimate" or "expect" and other
words, terms and phrases of similar meaning are often intended to
identify forward-looking statements, although not all
forward-looking statements contain these identifying words.
Forward-looking statements involve estimates, expectations,
projections, goals, forecasts, assumptions, risks and
uncertainties, as well as other statements referring to or
including forward-looking information included in this
presentation.
Forward-looking statements are subject to various risks and
uncertainties which could cause actual results to differ materially
from the anticipated results or expectations expressed in this
presentation. As a result, although management of the Company
believes that the expectations and assumptions on which such
forward-looking statements are based are reasonable, undue reliance
should not be placed on the forward-looking statements because the
Company can give no assurance that they will prove to be correct.
The risks that could cause actual results to differ materially from
current expectations include, but are not limited to, the risk
factors and other disclosures about the Company and its business
included in the Company's continuous disclosure
materials filed from time to time with Canadian and U.S. securities
regulatory authorities, which are available online under the
Company's EDGAR profile at www.sec.gov, under the Company's
SEDAR profile at www.sedar.com or on the Company's
website at www.maxar.com.
The forward-looking statements contained in this release are
expressly qualified in their entirety by the foregoing cautionary
statements. All such forward-looking statements are based upon data
available as of the date of this presentation or other specified
date and speak only as of such date. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements in this presentation as a result of new information or
future events, except as may be required under applicable
securities legislation.
Investor Relations Contact:
Jason Gursky
Maxar VP Investor Relations
1-303-684-2207
jason.gursky@maxar.com
Media Contact:
Turner
Brinton
Maxar Media Relations
1-303-684-4545
turner.brinton@maxar.com
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SOURCE Maxar Technologies Ltd.