MDA signs land administration modernization agreement
Media Release: January 31, 2017
Vancouver, BC - MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") (TSX: MDA), a global communications and information company, today announced announced that it has signed a Master Services Agreement to modernize the land administration infrastructure for an undisclosed international customer. Under this agreement, the Company has been awarded CA$4.2 million for the initial design phase of a long-term modernization service.
The Master Services Agreement envisages that the design phase will be followed by a long-term service delivery phase, providing the customer for many years with a highly advanced, responsive, and cost-efficient land administration infrastructure, which is continuously updated and maintained.
Norman Hannaford, MDA's vice president and general manager responsible for this business said, "Our ability to pursue this business is based on the advanced technology and processes we have developed with and for the Government of British Columbia over many years. Based on our market research we believe that our geospatial solutions in this domain are applicable to a number of other jurisdictions who are ready to modernize their land administration, and we are working on plans to pursue this business on a larger scale."
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 15 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 the anticipated satisfaction of certain outstanding conditions in respect of the Master Services Agreement and the Master Services Agreement 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. Risks that could cause actual results to differ from current expectations include, but are not limited to: MDA and the undisclosed international customer reaching agreement on the satisfaction of certain outstanding conditions required to make the Master Services Agreement effective; changes in the contracting entity's priorities, mandates, policies, funding levels, contracts and regulations; failure of third parties and subcontractors; and failure of systems to meet performance requirements.
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.mdacorporation.com.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.