Czech defense and industrial group Czechoslovak Group (CSG) acquired a 9.5% stake in Canadian firm MDA Space, becoming its largest shareholder. CSG describes the investment as its first major move into the space sector, which it sees as a natural extension of its defense and aerospace operations.
CSG says it intends to be a long-term strategic partner and sees potential for future collaboration. Possible areas include co-investing in European manufacturing facilities, partnering on acquisitions and using CSG's customer relationships to support MDA's global growth.
CSG has formed a dedicated space team and made senior appointments to lead its strategy in the sector.