Richmond, BC - MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") (TSX: MDA), a global communications and information company, today announced that it has signed a contract with Orbital Insight, Inc., a geospatial big data company that provides advanced information solutions obtained by analyzing millions of satellite images at a time. MDA will provide RADARSAT-2 Synthetic Aperture Radar (SAR) information for integration into Orbital Insight’s business intelligence services and products to enhance their analytics. MDA’s RADARSAT-2 provides valuable change detection information to enhance pattern-of-life analysis over areas of high activity. In combination with Orbital Insight’s data analytics capabilities, the RADARSAT-2 information will be used to monitor a variety of economic and industrial activity around the world.
The RADARSAT-2 satellite has global high-resolution surveillance capabilities that include a large collection capacity and high accuracy data acquisition. The satellite acquires data regardless of light or weather condition, and provides frequent re-visit imaging options. The information provided is ideally suited to markets that require either broad-area monitoring or targeted surveillance, such as defence and security, land use management, agriculture, disaster management, and natural resources.
David Belton, MDA’s manager responsible for this business said, “MDA has over 20 years of experience providing cost effective, accurate SAR information to many industries. We are excited to see what Orbital Insight’s deep learning and data analytics models will discover and what new applications and markets will be unlocked for RADARSAT-2.”
"SAR imagery has the potential to unearth a wealth of new insight that optical imagery cannot," said James Crawford, CEO of Orbital Insight. "This deal with MDA marks the first time deep learning convolutional neural networks will be applied to SAR, opening up the market for commercial SAR applications, which is expected to provide global opportunities for future growth over the next five years."
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 13 locations in the United States, Canada, and internationally.
The Company's common shares trade on the Toronto Stock Exchange under the symbol "MDA."
This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. (“MDA” or the “Company”) with respect to future events and financial performance. The forward-looking statements in this regard include statements regarding the award of a contract. Any such forward-looking statements are based on MDA’s current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. The factors and assumptions underlying the forward-looking statements in this release include contracts not being terminated. 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. MDA cautions readers that should certain risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. The risks that could cause actual results to differ from current expectations include, but are not limited to: risks associated with operating a satellite including in-orbit failures or impaired satellite performance; failure of third parties and subcontractors; failure of systems to meet performance requirements; and failure to anticipate changes in technology, technical standards and offerings or compliance with the requisite standards.
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.www.shuicheng1.icu.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.