MDA Space Buys 70% of CLS for $920M, Blue Origin Chases $10B at $130B Valuation, Space Force Reorganizes Around Nine Portfolios

MDA Space is buying 70% of French Earth-observation analytics firm Collecte Localisation Satellites for roughly $920 million in cash, with French space agency CNES retaining the remaining 30%. CEO Mike Greenley told investors the deal creates a vertically integrated analytics platform pairing MDA's radar satellites with CLS's downstream data services, and CFO Guillaume Lavoie said the two recent deals, CLS plus the $620 million Blue Canyon acquisition, carry a combined cost of roughly C$2 billion, backed by fully committed bank financing.

To pay for CLS, MDA upsized a bought-deal share offering to 23 million shares at $35.60 apiece, raising about $819 million in gross proceeds through a syndicate led by BMO and RBC. Closing is expected in late 2026 or early 2027.

Blue Origin is finalizing its first-ever outside capital raise, seeking about $10 billion at a $130 billion valuation with Coatue Management leading the round. CEO Dave Limp confirmed the effort in an internal memo, and prior reporting puts Jeff Bezos in for roughly $2 billion and Coatue for about $4 billion alongside other institutions. The financing lands as the company works to return New Glenn to flight by year-end after the May 28 pad explosion, and follows Bezos's May comments that Blue Origin finally had enough visibility into its future to bring on outside investors.

The Space Force has completed the biggest overhaul of its acquisition organization since the service stood up, replacing program-centric buying with nine mission-focused Portfolio Acquisition Executives spanning Space Access, Missile Warning and Tracking, Satellite Communications and PNT, Electromagnetic Warfare and Cyber, and Space Combat Power, among others. The same day, Space Systems Command declared L3Harris's Meadowlands ground-based satellite-communications jamming system operationally accepted, and Voyager Technologies picked up a multi-million-dollar contract for an agentic-AI spectrum operations platform on an undisclosed program.