A SatixFy chip. Photo: SatixFy

SatixFy Communications more than doubled revenue in the first quarter of 2025 as the satellite tech company is in the midst of a deal to be acquired by MDA Space. SatixFy shareholders voted on May 23 to approve the merger, which is expected to close in the third quarter of 2025.

SatixFy reported $4.9 million in revenue in Q1 — an increase of 158% compared to the first quarter of 2024. The company reported that $4 million was from development services and preproduction, and $900,000 was from product sales.

The company also increased gross profit for the first quarter of $2.9 million, an increase of 82% compared to $1.6 million for the same period in 2024.

The company is in the process of being acquired by Canadian manufacturer MDA Space. Earlier this week, the companies announced that MDA Space will pay more for SatixFy after a “go-shop” process yielded a higher bid. The deal now values SatixFy at $280 million (USD) when the previous price was $193 million. 

“Our company is firmly positioned as the global leader in space-grade chip technology, with standout innovations like our advanced processor, digital multi-beam chip and unique solutions including landing stations and terminals. We have successfully stabilized and grown the business, and we are now looking forward to and on the path to an exciting new chapter,” SatixFy CEO Nir Barkan commented. 

This story was updated on May 27 with the merger vote approval