Red Cat closes platform-focused acquisition & hires new defense leader
By
Ross Wilkers
Unmanned aircraft software maker Red Cat Holdings completes an acquisition to add the actual platform into its portfolio and subsequently hires a new defense business leader.
Unmanned aircraft software maker Red Cat Holdings has closed its all-stock acquisition of Teal Drones, a maker of those very vehicles for government and commercial industries.
Teal Drones’ Golden Eagle aerial vehicle is one of five such approved by the Defense Department for reconnaissance, public safety, and inspection applications.
Humacao, Puerto Rico headquartered-Teal Drones will become part of the enterprise segment at Red Cat that also includes remote inspection business Skypersonic, the acquirer said in a release Wednesday.
“We can offer both consumer and enterprise drones with an extensive suite of additional software and hardware options and other technologies, along with an approved line of military drones for public safety, reconnaissance and inspection applications,” Red Cat CEO Jeffrey Thompson said in a release.
Red Cat first announced the deal in July with terms remaining undisclosed.
In conjunction with the integration, Red Cat also announced Thursday its hire of nearly three-decade aerospace sector veteran Geoffrey Hitchcock as senior vice president of global defense solutions.
Hitchcock will lead the research and identification of all opportunities to sell the Teal Golden Eagle vehicle to military customers given the ban on federal funds for drones and drone components sourced from China.
Prior to Red Cat, Hitchock was vice president of sales and business development at Vantage Robotics with a focus on U.S. government and international market opportunities. He also spent 16 years at AeroVironment and the 22 before that in the Air Force.