WESTMINSTER, Colo.--(BUSINESS WIRE)--Maxar Technologies (NYSE:MAXR) (TSX:MAXR) today announced that it has begun production on a Legion-class geostationary satellite for Ovzon, a company located in the United States and Sweden dedicated to meeting the demand for increased mobile broadband connectivity in underserved regions.
Ovzon selected Maxar in December 2018 to build its first satellite, Ovzon 3, which will provide extremely versatile mobile broadband communications for small vehicles, aircraft and users on-the-move. Now that Ovzon has secured financing to build the satellite, Maxar will begin building it in its Palo Alto, California manufacturing facility. The satellite will be based on the mid-size Legion-class platform, formerly called the SSL-500, and is expected to be launched by SpaceX in 2021.
“Maxar’s Legion-class platform offers the benefits of the company’s proven technology and performance from the 1300-class satellite bus with a lower cost and smaller form factor,” said Megan Fitzgerald, Maxar’s Senior Vice President and General Manager, Space Solutions. “We’re delighted to collaborate closely with Ovzon on the development of the first satellite in their architecture, which will deliver better communications from space for a better world here on Earth.”
“We chose Maxar to build Ovzon 3 because they have a strong reputation of delivering world-class, reliable products backed by industry leading customer service and manufacturing agility. Ovzon 3 is an important first step towards fulfilling our strategy to further revolutionize mobile broadband by satellite, offering the highest bandwidth with the smallest terminals,” said Magnus René, Chief Executive Officer of Ovzon.
The operations of DigitalGlobe, SSL and Radiant Solutions were unified under the Maxar brand in February; MDA continues to operate as an independent business unit within the Maxar organization.
About Maxar Technologies
As a global leader of advanced space technology solutions, Maxar is at the nexus of the new space economy, developing and sustaining the infrastructure and delivering the information, services, and systems that unlock the promise of space for commercial and government markets. The operations of DigitalGlobe, SSL and Radiant Solutions were unified under the Maxar brand in February; MDA continues to operate as an independent business unit within the Maxar organization. As a trusted partner with 5,900 employees in over 30 global locations, Maxar 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. 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.
Ovzon offers a revolutionary mobile broadband service via satellite combining high bandwidth with highly mobile terminals – offering speeds up to 80 times faster than competing services. Applications include real-time sensor and video upload, either from moving or highly mobile platforms, including small vehicles, small aircraft or UAVs, or directly from users on-site transmitting on-the-go. Ovzon is headquartered in Solna, Sweden and has offices in Tampa, FL and Bethesda, MD in the United States. The share (OVZON) is traded on Nasdaq First North Premier, FNCA Sweden AB is the company’s Certified Adviser. Read more on www.ovzon.com.
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 U.S. securities and Canadian 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.