Richmond, BC/Palo Alto, CA - MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") (TSX: MDA) and Space Systems/Loral, LLC ("SSL") announced that following the mediation on December 1, 2014 among MDA and Loral Space and Communications Inc. (“Loral”), MDA/SSL agreed that they will be responsible for US$55 million, and Loral will be responsible for US$45 million of the US$100 million settlement of the ViaSat Communications, Inc. litigation. MDA/SSL has already paid US$23.4 million, including interest, to-date of this settlement.
MDA is a global communications and information company providing operational solutions to commercial and government organizations worldwide.
MDA's business is focused on markets and customers with strong repeat business potential, primarily in the Communications sector and the Surveillance and Intelligence sector. In addition, the Company conducts a significant amount of advanced technology development.
MDA's established global customer base is served by more than 4,800 employees operating from 11 locations in the United States, Canada, and internationally.
The Company's common shares trade on the Toronto Stock Exchange under the symbol "MDA."
This news release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. and its subsidiaries (collectively “MDA” or the “Company”) with respect to the settlement of amounts owing relating to the patent litigation. The forward-looking statements in this regard include statements regarding the settlement of amounts owed on a prior settlement. These forward looking statements are based on certain assumptions, including there being no further litigation among the parties in the future regarding patents and other factors that may affect the sale of satellites. Any such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from current expectations including sales of satellites. MDA cautions readers that should certain risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected.
For additional information with respect to certain of these risks or factors, plus additional risks or factors, reference should be made to the Company's continuous disclosure materials filed from time to time with Canadian securities regulatory authorities, which are available online under the Company's profile at www.sedar.com or on the Company's website at www.mdacorporation.com.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.