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Maxar Acquires Ai And Software Engineering Company Wovenware To Bolster Machine Learning And 3D Data Production Capabilities

Nov 03, 2022•about 3 years ago

Acquiring Company

Maxar

Acquired Company

Software Engineering

WestminsterGeospatialInformation TechnologySoftwareMachine LearningArtificial IntelligenceInformation TechnologySoftware

Description

Maxar Technologies (NYSE:MAXR) (TSX:MAXR), provider of comprehensive space solutions and secure, precise, geospatial intelligence, today announced that it has completed the acquisition of AI and software development company Wovenware. This acquisition significantly adds to Maxar’s software engineering and AI capabilities and talent.

Company Information

Company

Maxar

Location

Westminster, California, United States

About

Maxar Technologies (NYSE:MAXR) (TSX:MAXR) is a provider of comprehensive space solutions and secure, precise, geospatial intelligence. We deliver disruptive value to government and commercial customers to help them monitor, understand and navigate our changing planet; deliver global broadband communications; and explore and advance the use of space. Our unique approach combines decades of deep mission understanding and a proven commercial and defense foundation to deploy solutions and deliver insights with unrivaled speed, scale and cost effectiveness. Maxar’s 4,400 team members in over 20 global locations are inspired to harness the potential of space to help our customers create a better world. Maxar trades on the New York Stock Exchange and Toronto Stock Exchange as MAXR. For more information, visit www.maxar.com.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed