Calian Group Ltd.

Calian is four businesses under one listing, and the mix is unusual enough that people who know one segment often have no idea the others exist. Advanced Technologies is the engineering and manufacturing arm. It is where the Saskatoon engineering house formerly known as SED Systems sits, and that operation remains the backbone of the satellite ground work. It builds satellite ground infrastructure, antennas and RF systems, in-orbit test equipment, and the sat-nms monitoring and control product family acquired with SatService of Germany. The Decimator RF spectrum analyzer monitors carriers across satellite, wired and terrestrial networks. A separate GNSS antenna line, including multi-band and smart antennas, serves precision navigation and unmanned vehicle customers, and the same segment runs teleports in Saskatoon, Hawaii and Guam. Defence manufacturing sits here too, covering circuit card assembly, wiring harnesses, composites and product assembly, along with nuclear and radiation safety consulting inherited from International Safety Research and the Bin-Sense grain monitoring technology from IntraGrain.

Learning is the training segment and the one most Canadian defence people encounter. Calian designs and delivers military training, exercises and emergency management programs, and its acquisitions of SimFront and SimWave added simulation development for land and naval training. The Training and Support Services contract for the Canadian Army Simulation Centre is worth roughly $170 million over its full nine-year term. NATO work includes a training contract with the NATO Security Force Assistance Centre of Excellence.

Health manages a network of more than 1,800 health professionals delivering primary care, occupational health and mental health services. Its anchor is the Health Care Provider Recruitment contract with the Department of National Defence, work Calian has done in some form since 2005 and which received a $250 million amendment in July 2025. Allphase Clinical Research brought contract research organisation capability for pharmaceutical and device trials. IT and Cyber Solutions is the fourth segment, covering risk assessment and compliance, penetration testing, infrastructure protection, incident response, cloud security and security awareness training, plus emissions security and electromagnetic environmental effects testing that matters for classified facilities and military platforms. The company also runs Calian VENTURES to move Canadian defence technologies from prototype toward deployment in decision support, autonomous systems and space. Around 4,500 people work for Calian, revenue reached roughly $774 million in fiscal 2025, and the shares trade in Toronto under CGY from a head office in Ottawa. The four segments share little technically. Calian's argument for holding them together is that all four sell skilled people and engineering time into regulated buyers with long procurement cycles.