Posted March 18, 2020 12:19:38In an interview with CNBC’s Becky Quick, Maxar CEO Brian Smith said the deal is contingent on a number of conditions, including a reduction in the cost of Apex’s products, a more competitive business environment and an end to the merger with Aventura Technologies.
“I don’t think we’re in a position right now to close that deal right now,” Smith said.
“But, in the next couple of weeks, we’ll sit down and we’ll discuss it.”
In a statement, Apex CEO Chris Mancini said he and his company are “pleased” with the outcome of the deal.
“We look forward to working with Maxar on the acquisition of Apex Technologies and will provide our employees with the highest level of support, including training and support,” Mancino said.
The merger will bring together two companies with diverse technologies, business models and customers.
Apex’s core competency is in cloud and data analytics.
Maxar’s core technology is in the data center.
The merger is expected to create jobs for about 40,000 employees.