Boeing Buys Insitu To Expand Capabilities In Unmanned Aircraft | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

** Airborne 08.29.14 ** HD iPad-Friendly -- Airborne 08.29.14 **
** Airborne 08.27.14 ** HD iPad-Friendly -- Airborne 08.27.14 **
** Airborne 08.25.14 ** HD iPad-Friendly -- Airborne 08.25.14 **

Wed, Jul 23, 2008

Boeing Buys Insitu To Expand Capabilities In Unmanned Aircraft

Part Of Bigger Drive To Build UAS Resources

Boeing announced Wednesday an agreement to acquire Insitu, Inc., a pioneer in the unmanned air systems (UAS) market and leader in the design, development and manufacture of high-performance, low-cost UAS used for intelligence, surveillance and reconnaissance (ISR).

Boeing and Insitu have partnered since 2002 and together developed the ScanEagle UAS program, which has more than 100,000 operational flight hours with the US Department of Defense and international customers. Boeing says Insitu's technologies and advanced capabilities in rapid prototyping and manufacturing are driving its revenue to an anticipated $150 million this year, 70 percent higher than in 2007, and have it well positioned for the future.

"Increasingly our customers are seeking advanced unmanned aerial solutions to address a wide range of requirements for ISR missions," said Jim Albaugh, president and CEO of Boeing Integrated Defense Systems. "The Boeing-Insitu team has been successfully delivering much-needed capability to the warfighter in a changing threat environment. Bringing these outstanding teams together will accelerate deployment of the next generation of unmanned systems to our US and allied service members."

Terms of the cash transaction were not disclosed. The transaction, anticipated to close by the end of September following regulatory approvals, does not affect Boeing's financial guidance. Once acquired, Insitu will be a separate subsidiary under Boeing Integrated Defense Systems' Military Aircraft unit... allowing it to retain an independent operating model, while benefiting from Boeing's vast resources.

"This acquisition is part of a larger plan to aggressively grow our presence in the unmanned systems market," said Chris Chadwick, president, Boeing Military Aircraft. "We look forward to building upon our existing relationship with Insitu to deliver industry-leading tactical unmanned systems and services to our customers."

Founded in 1994 as an entrepreneurial start-up, Insitu, located in Bingen, WA designs, develops and manufactures UAS for commercial and military applications. It built the first UAS to cross the Atlantic Ocean, and today has approximately 360 employees.

"This agreement allows us to leverage the breadth and strength of Boeing to get our organization to the next level," said Steven Sliwa, president and CEO of Insitu. "At the same time, it allows us to retain the unique culture and environment that have driven the continuous innovation and entrepreneurial agility that have us positioned as a leader in our market."

FMI: www.boeing.com, www.insitu.com

Advertisement

More News

House GA Caucus Seeks Speedy Medical Reform

Members Call On DOT To Expedite The Review Thirty-two members of the U.S. House of Representatives General Aviation Caucus are asking the Department of Transportation to speed up t>[...]

Airborne 08.29.14: Google Drone!, Cessna's 10,000th, Bearhawk LODA

Also: Big Boeing Order, Napa Tower Quaked, Landsberg Retires, Galileo Falters Breaking News! Google has unveiled an exciting new UAV project, called Project Wing, which has been un>[...]

Airborne 08.29.14: Google Drone!, Cessna's 10,000th, Bearhawk LODA

Also: Big Boeing Order, Napa Tower Quaked, Landsberg Retires, Galileo Falters Breaking News! Google has unveiled an exciting new UAV project, called Project Wing, which has been un>[...]

FAA Issues Emergency Order Of Revocation Against MARPAT Aviation

Alleges The Company Conducted Operations It Was Not Qualified To Perform The FAA has issued an Emergency Order of Revocation against MARPAT Aviation of Switzer, WV for allegedly vi>[...]

ANN's Daily Aero-Linx (08.30.14)

International Comanche Society The International Comanche Society exists to serve its membership by supplying information and know-how to support good maintenance, safety, and affo>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC