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  • Saturday, April 20, 2024

Red Cat Signs All-Stock Deal for Teal Drones

Drone technology and service provider Red Cat Holdings (Nasdaq: RCAT) has entered into an all-stock deal to acquire Teal Drones, a Utah-based manufacturer of unmanned aircraft systems for government and military applications.

Puerto Rico-based Red Cat said Tuesday that Teal will tie up with the former’s enterprise group that offers the Skypersonic remote inspection system and the cloud-based Dronebox analytics platform.

Teal, founded in 2014 and led by George Matus, is the developer of Golden Eagle UAS for public safety, inspection and reconnaissance purposes and is among the five companies authorized by the Department of Defensev to market small UAS to the government sector.

Red Cat’s offerings include enterprise remote flight technology, software-as-a-service flight data storage and communication products.

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