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Market Overview

Red Cat To Acquire Drone Company Skypersonic

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  • Red Cat Holdings, Inc. (OTC: RCATinked an agreement to acquire drone products and software solutions provider Skypersonic, Inc.
  • The financial terms of the acquisition remain undisclosed.
  • Skypersonic’s patented software and hardware solutions enable inspection services in restricted spaces inaccessible to GPS.  
  • Skypersonic’s Skycopter is a minute caged drone to avoid damage. Its software system Skyloc allows drones to record and transmit data from long distances.  
  • Skypersonic’s intellectual property portfolio includes eight U.S. and European patents.
  • “We continue to build a strong platform of products and services in the drone industry, which is forecast to reach $40 billion by 2025,” said Red Cat CEO Jeff Thomson.
  • The company subsidiary Fat Shark collaborated with Skypersonic last month to complete a long-distance drone flight remotely.
  • Price Action: RCAT shares are up 7% at $5.30 on the last check Tuesday.
 

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