European industrial and defense group CSG is now the largest shareholder in Canadian satellite manufacturer MDA Space after making an investment to hold 9.5% equity in the company. The investment, announced Tuesday, marks CSG’s entry into the space sector.
CSG, headquartered in Prague in the Czech Republic, has a portfolio of companies in defense systems and ammunitions, including Excalibur Army, Tatra Defence, and MSM Group.
CSG explained that as defense and space are interconnected, developing capability in space is a natural expansion for the group. The strategic investment in Canadian company MDA Space could lead to co-investing in manufacturing or assembly facilities in Europe, partnering on strategic acquisitions, and connecting MDA Space with CSG’s customers.
MDA Space builds satellites, operates Earth Observation (EO) satellites, and builds robotics for space missions including the Canadarm. The company expects to report 1.8 billion to 1.9 billion Canadian dollars ($1.27 billion to $1.34 billion) to in 2026 revenue, representing approximately 13% year-over-year growth.
“MDA Space is a highly respected, well led, profitable and growing space company with exceptional technological capabilities and a diversified position across satellite systems, robotics and space operations, geointelligence and defence-related applications,” commented CSG Chairman Michal Strnad. “We expect that CSG’s customers will be able to benefit from a much wider and more complex product offering in an era of rapidly increasing dependency of our security on space applications.”
MDA Space CEO Mike Greenley commented that expanding MDA Space’s global investor network “is a strategic tool for continued expansion of our business.” The company has also targeted growth through acquisitions this year with deals to acquire French data and analytics firm CLS and Colorado-based satellite manufacturer Blue Canyon Technologies.
CSG also announced it is creating a dedicated space team including former NATO space advisor Ladislav Stah as head of space strategy and technology, and investment expert Filip Kocián as space director for corporate development. CSG previously made smaller-scale venture capital investments through its Tech Horizons VC fund in SatVu in the U.K. and Atmos Space Cargo in Germany.
