With its purchase of Edge Autonomy, Redwire plans to expand its portfolio to include autonomous airborne platforms to support national security missions. | Source: Redwire Corp.
Redwire Corp. yesterday said it is acquiring drone provider Edge Autonomy for $925 million. The space infrastructure developer said it is broadening its portfolio of mission-critical space infrastructure to include combat-proven autonomous airborne platforms.
“The combination of Redwire and Edge Autonomy creates a uniquely positioned space and defense company focused on two of the fastest-growing trends in defense technology,” stated Peter Cannito, chairman and CEO of Redwire. “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.”
Founded in 2020, Redwire said its capabilities include avionics, sensors, power systems, critical structures, mechanisms, radio frequency systems, platforms, missions, and microgravity payloads. The Jacksonville, Fla.-based company serves civil, commercial, and national security programs and said it has worked in recent years to strengthen its position as a provider of defense technology.
Redwire recently added two space platforms to its technology portfolio, Thresher and Mako. It designed them for software-defined, AI-enabled, autonomous operations in low Earth orbit, medium Earth orbit, and geostationary orbit. In addition, the company is developing very low Earth orbit spacecraft or “orbital drones.”
With its acquisition of Edge Autonomy’s uncrewed aerial systems (UAS), Redwire said it will create “integrated capabilities for its customers that leverage connectivity across space and airborne operations.”
Edge Autonomy designs for defense requirements
Formed in 2021 through the merger of UAV Factory and Jennings Aeronautics, Edge Autonomy harnesses over three decades of experience developing uncrewed and autonomous systems. The vertically integrated company said it has strong relationships with U.S. Department of Defense, Special Operations Forces, and allied governments.
“We are extremely excited to join forces with Redwire and merge two industry leaders in advanced multi-domain technologies,” said Steve Adlich, CEO of Edge Autonomy. “Both companies are committed to technology innovation, reliability, and satisfying customer demand, and we see significant synergies within our collective capabilities that will positively impact both businesses and enable continued growth.”
Edge Autonomy’s UAS fleet includes its Stalker series and Penguin series. The company said it has optimized its technology for long-endurance, long-range reconnaissance missions. Users can also quickly deploy the systems for time-critical operations, it said.
San Luis Obispo, Calif.-based Edge Autonomy has more than 600 employees around the world. With more than 265,000 sq. ft. (24,619 sq. m) of manufacturing and production capabilities across the U.S. and Europe, the company said it delivers proven systems based on real-world mission needs.
From September 2023 to September 2024, Edge Autonomy achieved revenues of $222 million and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $72 million.
Redwire to create wholly owned subsidiary
Redwire agreed to acquire Edge Autonomy on a debt-free, cash-free basis. The deal is subject to customary working capital, cash, and debt adjustments.
Redwire said it expects to pay the merger consideration using $150 million in cash and $775 million in shares of common stock, based on the volume-weighted average trading price on the New York Stock Exchange for the 30 trading days ended on Jan. 17, 2025, of $15.07. Following the merger, Edge Autonomy and its subsidiaries will be wholly owned subsidiaries of Redwire.
Immediately upon closing, the companies said the transaction will add to Redwire’s revenue, adjusted EBITDA, and free cash flow. For the 12 months ending on Dec. 31, 2025, Redwire forecast full-year revenues of $535 million as a combined company.
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