Teal Drones, U.S. manufacturers of the sUAS Golden Eagle and one of five companies selected by the DoD in 2020 as approved small unmanned aerial system (sUAS) vendors, has been acquired by Red Cat Holdings Inc.
Products, services and solutions provider to the drone industry Red Cat, spans multiple markets including: enterprise remote flight technology; SaaS solutions for secure flight data storage; consumer hardware and communication technology.
The definitive agreement to acquire Teal Drones in an all-stock transaction will add Teal Drones to Red Cat’s portfolio to strengthen the group and provide Red Cat with a government sector solution.
The Golden Eagle is a U.S. government-approved sUAS designed for reconnaissance, public safety, and inspection applications.
The open and modular platform allows a critical mass of applications to be developed and integrated for next-generation capabilities. Partners actively integrating technologies with Teal include Autonodyne, Tomahawk Robotics, Dronelink and Skyward.
Speaking of the acquisition, CEO of Red Cat, Jeff Thompson said; “Adding Teal to the family helps Red Cat naturally expand deeper into the enterprise and government spaces.”
“Teal’s Golden Eagle drone platform and its existing access to the Department of Defense combined with the market reach and experience of Red Cat should well-position the joint group for unbridled success as the industry grows.”
The enterprise group at Red Cat holdings also includes remote inspection company Skypersonic and analytics platform for cloud-based flight intelligence Dronebox, as well as Fat Shark and Rotor Riot. Collectively the group represents a comprehensive hub of drone technologies catering to all segments of the growing drone industry.
CEO of Teal, George Matus, commented, “With Red Cat’s operational expertise and access to capital, Teal is amazingly positioned to rebuild America’s drone industrial base across sectors. We are incredibly excited to join Red Cat as Golden Eagle scales production and further applications are released.”