Space infrastructure company Redwire has agreed to acquire US-headquartered uncrewed airborne system (UAS) technology maker Edge Autonomy in a $925m deal.
The merger is anticipated to create a transformative space and defence technology company, with a focus on integrated autonomous, AI-enabled multi-domain operations, Redwire said.
Go deeper with GlobalData
The deal consideration includes $775m in Redwire common stock and $150m in cash. The stock valuation is based on a 30-day volume-weighted average trading price as of 17 January 2025.
Upon completion, Edge Autonomy will operate as a wholly owned subsidiary of Redwire.
The combined entity forecasts revenues between $535m and $605m for the year ending 31 December 2025, with an adjusted EBITDA ranging from $70m to $105m. These projections assume the transaction’s effective date as 1 January 2025.
Edge Autonomy, established through the merger of UAV Factory and Jennings Aeronautics in 2021, provides autonomous systems and advanced optics, serving clients such as the US Department of Defense.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe company’s UAS technology, including the Stalker and Penguin series, is designed for long-range reconnaissance missions and rapid deployment.
During the 12-month period ending 30 September 2024, Edge Autonomy reported revenues of $222m and an adjusted EBITDA of $72m. The company boasts a global workforce of more than 600 and more than 265,000ft² of manufacturing space in the US and Europe.
Redwire’s recent additions, the Thresher and Mako space platforms, are expected to complement Edge Autonomy’s UAS technologies, enhancing capabilities across space and airborne operations.
Redwire chairman and CEO Peter Cannito said: “The combination of Redwire and Edge Autonomy creates a uniquely positioned space and defence company focused on two of the fastest growing trends in defence technology.
“As space and airborne platforms converge into an integrated network of autonomous, collaborative systems, Redwire will be poised to provide end-to-end solutions for multi-domain operations from the surface of the earth to the surface of the moon and beyond.”
The transaction is subject to customary approvals, including a Redwire stockholder vote and regulatory clearances, with an expected closure in the second quarter of 2025.
JP Morgan Securities and GH Partners are acting as financial advisors, while Holland & Knight is providing legal counsel to Redwire.
Citi is the financial advisor, and Kirkland & Ellis is providing legal services to Edge Autonomy.
In December 2024, Redwire secured a $45.46m contract from the US Air Force Research Laboratory’s Space Vehicles Directorate for advanced space-based defence capabilities.
