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The Defence Investment Agency announced the deal to use Telesat’s planned Lightspeed constellation of low Earth orbit satellites for Arctic communications. Telesat turned around and ordered $474 million worth of additional satellites from Lightspeed supplier MDA Space. MDA’s share price rose more than 15 per cent by midday; Telesat’s rocketed more than 45 per cent. (The Logic)
Talking point: Telesat’s future rides on the Lightspeed project, and it’s being sued by creditors over a restructuring that separated Lightspeed from its decaying traditional satellite business. The 15-year deal (counting two optional extensions that would be worth about another $432 million) follows a contract awarded last December for preliminary work on the Arctic satellite system and an agreement in principle announced in July. Telesat and MDA are working out contract details for yet more military-oriented satellites to circle in more distant orbits.
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