Advent to Buy Satellite Operator Maxar for About $4 Billion (1)

Advent International Corp. agreed to buy satellite owner and weather forecaster Maxar Technologies Inc. in a deal that values the company at about $4 billion.

Private equity firm Advent will pay $53 per share for Maxar, the companies said Friday. Maxar shares more than doubled in pre-market trading to $49.75 after closing at $23.10 on Thursday.

Maxar’s share price sagged this year as the company missed earnings targets and revised its 2022 projections lower. Advent said it would prioritize Maxar’s work with the U.S. defense and intelligence agencies.

The transaction is worth a total of $6.4 billion including debt.

Maxar, ...