The Globe and Mail reports in its Thursday edition that MDA Space has agreed to acquire a 70-per-cent interest in French earth observation company Collecte Localisation Satellites for about $920-million in cash and is issuing shares to raise $1-billion to help fund the deal. The Globe's Irene Galea writes that CLS, based in Toulouse, France, was founded in 1986 as a unit of the French space agency. CLS offers space-based data analytics services, employs 1,200 people and runs in 150 countries. The deal is expected to close by the end of 2026 or early 2027, subject to regulatory approvals and consultation with CLS employee representation bodies in accordance with French law. CLS is expected to generate around $465-million in revenue in 2026. This is equivalent to approximately 29 per cent of the space technology vendor's 2025 revenue of $1.6-billion. MDA is issuing 20 million common shares at a price of $35.60 (U.S.) each. The offering is expected to close on or about July 14, subject to customary closing conditions, the company said. The new stock is being issued through a bought deal. MDA currently has about 139 million shares outstanding, meaning the new issue would represent a roughly 14-per-cent increase.