Satellite tv for pc operator Telesat has given area tech agency MDA a CAD 2.1 billion (almost Rs. 12,950 crore) contract to construct 198 satellites for its low-earth orbit program.

The deal introduced on Friday sparked a greater than 45 p.c surge in each Telesat’s Canadian and US shares, placing them on observe for his or her finest day ever. MDA, in the meantime, rose about 29 p.c.

Telesat mentioned it had earmarked $3.5 billion (almost Rs. 29,020 crore) as capital expenditure for the Lightspeed venture and that the MDA deal had helped it save $2 billion (almost Rs. 16,580 crore).

The launches are scheduled to start in mid-2026, with polar and international companies scheduled to start in late 2027.

Through the use of MDA’s beam-forming array antennas and built-in regenerative processor, the redesigned Telesat Lightspeed community will obtain elevated community effectivity and enhanced flexibility to focus and ship capability to customers, the corporate mentioned in a press release.

The know-how would additionally permit every satellite tv for pc to be barely smaller than those Telesat was beforehand contemplating.

Telesat’s Lightspeed community is designed to serve the connectivity necessities of enterprise and authorities customers, with extremely safe, resilient, low-latency broadband connectivity wherever on the planet.

The corporate launched its first LEO 3 demonstration satellite tv for pc aboard Rocket Lab’s Electron rocket in July.

Telesat earlier on Friday additionally reported second-quarter outcomes. The corporate posted a revenue of CAD 519.9 million (almost Rs. 3,210 crore), in contrast with a year-ago lack of CAD 4.38 million (almost Rs. 27 crore). Income fell 4 p.c. 

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