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Edge Autonomy’s catapult-launched Penguin C Mk2 unmanned aircraft system. Photo: Edge Autonomy

Space infrastructure company Redwire Corp. on Monday said it has agreed to acquire Edge Autonomy in a $925 million deal that would take it into new territory, autonomous unmanned aircraft systems (UAS) and related payloads.

The deal includes $150 million in cash and $775 million in Redwire stock, and is expected to close in the second quarter.

Edge Autonomy, based in California, has more than 600 employees and had $222 million in sales for the 12-month period that ended Sept. 30, 2024, and $72 million in adjusted earnings.

The company’s UAS include long-range, long-endurance Group 2 and 3 platforms, some of which are fixed-wing, and others that are fixed-wing but can take-off and land vertically. Edge Autonomy has a suite of electro-optic and infrared payloads, and power systems.

Customers include the Army, Marine Corps, Special Operations Command, the Department of Homeland Security, and foreign agencies.

For Redwire, the pending acquisition would give it a play in a market area that has grown in importance given heavy use of UAS in the ongoing Russo-Ukraine War and the Defense Department’s focus on all-domain autonomous, attritable unmanned systems.

“The combination of Redwire and Edge Autonomy creates a uniquely positioned space and defense company focused on two of the fastest growing trends in defense technology,” Peter Cannito, chairman and CEO of Redwire, said in a statement. “As space and airborne platforms converge into an integrated network of autonomous, collaborative systems, Redwire will be posed to provide end-to-end solutions for multi-domain operations from the surface of the earth to the surface of the Moon and beyond.”

Redwire, which is based in Florida, builds solar arrays and deployable boom structures, guidance, navigation, and control systems, very Low-Earth Orbit platforms, engineering and mission support services, and life- and agri-science, for space applications.

Redwire said the combination with Edge Autonomy will also enable the creation of “new integrated capabilities for our customers” with solutions that “leverage connectivity across space and airborne operations.”

Assuming the deal had been completed on Jan. 1, Redwire is forecasting sales this year between $535 million and $605 million, adjusted operating income between $70 million and $105 million, and positive free cash flow.

Redwire is a portfolio company of AE Industrial Partners. Edge Autonomy is also a portfolio company of AEI, which formed the company in 2021 when it acquired Jennings Aeronautics and combined it with its portfolio company UAV Factory.

This story was first published by Defense Daily

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