With its buy of Edge Autonomy, Redwire plans to broaden its portfolio to incorporate autonomous airborne platforms to help nationwide safety missions. | Supply: Redwire Corp.
Redwire Corp. yesterday mentioned it’s buying drone supplier Edge Autonomy for $925 million. The house infrastructure developer mentioned it’s broadening its portfolio of mission-critical house infrastructure to incorporate combat-proven autonomous airborne platforms.
“The mix of Redwire and Edge Autonomy creates a uniquely positioned house and protection firm targeted on two of the fastest-growing developments in protection expertise,” acknowledged Peter Cannito, chairman and CEO of Redwire. “As house and airborne platforms converge into an built-in community of autonomous, collaborative techniques, Redwire shall be poised to supply end-to-end options for multi-domain operations from the floor of the earth to the floor of the moon and past.”
Based in 2020, Redwire mentioned its capabilities embrace avionics, sensors, energy techniques, crucial buildings, mechanisms, radio frequency techniques, platforms, missions, and microgravity payloads. The Jacksonville, Fla.-based firm serves civil, industrial, and nationwide safety applications and mentioned it has labored in recent times to strengthen its place as a supplier of protection expertise.
Redwire just lately added two house platforms to its expertise portfolio, Thresher and Mako. It designed them for software-defined, AI-enabled, autonomous operations in low Earth orbit, medium Earth orbit, and geostationary orbit. As well as, the corporate is growing very low Earth orbit spacecraft or “orbital drones.”
With its acquisition of Edge Autonomy’s uncrewed aerial techniques (UAS), Redwire mentioned it’ll create “built-in capabilities for its prospects that leverage connectivity throughout house and airborne operations.”
Edge Autonomy designs for protection necessities
Fashioned in 2021 by means of the merger of UAV Manufacturing unit and Jennings Aeronautics, Edge Autonomy harnesses over three a long time of expertise growing uncrewed and autonomous techniques. The vertically built-in firm mentioned it has robust relationships with U.S. Division of Protection, Particular Operations Forces, and allied governments.
“We’re extraordinarily excited to hitch forces with Redwire and merge two trade leaders in superior multi-domain applied sciences,” mentioned Steve Adlich, CEO of Edge Autonomy. “Each firms are dedicated to expertise innovation, reliability, and satisfying buyer demand, and we see important synergies inside our collective capabilities that can positively affect each companies and allow continued progress.”
Edge Autonomy’s UAS fleet consists of its Stalker sequence and Penguin sequence. The corporate mentioned it has optimized its expertise for long-endurance, long-range reconnaissance missions. Customers also can rapidly deploy the techniques for time-critical operations, it mentioned.
San Luis Obispo, Calif.-based Edge Autonomy has greater than 600 staff all over the world. With greater than 265,000 sq. ft. (24,619 sq. m) of producing and manufacturing capabilities throughout the U.S. and Europe, the corporate mentioned it delivers confirmed techniques based mostly on real-world mission wants.
From September 2023 to September 2024, Edge Autonomy achieved revenues of $222 million and adjusted earnings earlier than curiosity, taxes, depreciation, and amortization (EBITDA) of $72 million.
Redwire to create wholly owned subsidiary
Redwire agreed to accumulate Edge Autonomy on a debt-free, cash-free foundation. The deal is topic to customary working capital, money, and debt changes.
Redwire mentioned it expects to pay the merger consideration utilizing $150 million in money and $775 million in shares of frequent inventory, based mostly on the volume-weighted common buying and selling value on the New York Inventory Change for the 30 buying and selling days ended on Jan. 17, 2025, of $15.07. Following the merger, Edge Autonomy and its subsidiaries shall be wholly owned subsidiaries of Redwire.
Instantly upon closing, the businesses mentioned the transaction will add to Redwire’s income, adjusted EBITDA, and free money move. For the 12 months ending on Dec. 31, 2025, Redwire forecast full-year revenues of $535 million as a mixed firm.
