Red Cat Inks Agreement to Acquire Drone Manufacturer Flightwave Aerospace Systems

Drone technology provider Red Cat Holdings (Nasdaq: RCAT) has signed a letter of intent to acquire FlightWave Aerospace Systems to expand its portfolio of unmanned aerial system offerings for intelligence, surveillance and reconnaissance operations.

FlightWave will bring its Edge 130 Blue military-grade tricopter for long-range inspection, mapping, surveillance and reconnaissance to expand Red Cat’s line of ISR drones upon the closure of the deal, the Puerto Rico-based UAS manufacturer said Tuesday.

Jeff Thompson, CEO of Red Cat, said Edge 130 would complement its Teal drones with extended range and endurance, additional payloads and maritime capabilities, positioning the company to meet the requirements of the Department of Defense’s Replicator Initiative.

“The Edge 130 is engineered to provide long-range aerial autonomy and is capable of performing long distance beyond visual line of sight mapping, inspection, surveillance, and reconnaissance missions with exceptional accuracy,” said Trent Lukaczyk, co-founder and chief technology officer of FlightWave.

The companies did not disclose the financial terms of the transaction.

Teal Drones, which Red Cat acquired in September 2021, builds the company’s Teal 2 system, a man-portable small-UAS designed to support defense, civilian and public safety operations in support of domestic and international customers.

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