DealsAug 4, 2026, 07:32 AM
Telesat Secures $2.7B Canada Contract for Lightspeed Network Expansion
AI Summary
Telesat LEO ULC, a subsidiary of Telesat Corporation, announced a $2.3 billion Telesat Lightspeed services contract with Canada's Defence Investment Agency. Including options, the total contract value is $2.7 billion (CAD) over 15 years, providing secure Military Ka-band (Mil-Ka) Arctic connectivity to the Canadian Armed Forces starting in 2028. This agreement, the largest in Telesat's history, will expand the Lightspeed network by 69 satellites to a total of 225, with funding from the Government of Canada.
Key Highlights
- Signed $2.3B Telesat Lightspeed services contract with Canada's Defence Investment Agency.
- Contract includes two five-year options, bringing total value to $2.7B (CAD).
- Agreement is for 15 years of service, providing Mil-Ka Arctic connectivity, starting 2028.
- Expands Telesat Lightspeed network by 69 satellites, bringing total constellation to 225.
- Expansion funded by milestone-based payments from Government of Canada starting Q3 2026.
- Total expected investment in the 225-satellite network is approximately $7B.
- This is the largest contract in Telesat's history, positioning for accelerated growth.
- Telesat will host an investor call on August 4, 2026, at 8:30 am EDT to discuss.
Price Impact
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