Red Cat Holdings Inc. has signed an agreement to acquire Teal Drones, a maker of commercial and government unmanned aerial systems (UAS).
The all-stock transaction will help Red Cat expand its enterprise portfolio and will be added to Red Cat’s expanding acquisitions including: Skypersonic, a remote inspection company; Dronebox, a cloud-based flight intelligence platform; Fat Shark, a drone imaging and communication company; and Rotor Riot, a lifestyle operation focused on the consumer segment.
Teal’s Golden Eagle drone platform and its access to the Department of Defense will allow Red Cat to expand its drone reach. Teal is one of only five UAS companies selected by the DoD in 2020 to sell drones to the U.S. government.
Teal’s open and modular platform allows a critical mass of applications to be developed and integrated into future UAS devices.
