Maxar Technologies (NYSE: MAXR) has begun the process of its domestication in the U.S. as part of its business strategy.
Howard Lance, Maxar president and CEO, said in a statement published Tuesday the proposed U.S. domestication is part of the firm’s U.S. Access Plan and seeks to accelerate its growth efforts.
“Today’s announcement represents an important milestone for Maxar and will further advance our efforts to service and compete for future U.S. government contracts,†Lance added.
Maxar expects the process to conclude in January 2019, subject to approvals by security holders, courts and other authorities.
The company’s board of directors unanimously cleared Maxar’s plan to move its incorporation from British Columbia, Canada, to the state of Delaware and recommended the approval of the arrangement to security holders, who are scheduled to meet on Nov. 16 to vote on the plan.
Maxar, formerly Canada-based MacDonald, Dettwiler and Associates, said it committed to its incorporation in the U.S. no later than Dec. 31, 2019 as part of its acquisition of DigitalGlobe in October 2017.
