Boeing Acquires Insitu

By DE Editors

The Boeing Company (St. Louis,  MO)  announced an agreement to acquire Insitu, Inc., (Bingen, WA)  a pioneer in the unmanned air systems (UAS) market.

Since 2002, Boeing and Insitu have partnered and together developed the successful ScanEagle UAS program, which boasts more than 100,000 operational flight hours with the U.S. Department of Defense and international customers. Driving Insitu’s revenue to an anticipated $150 million this year are its key technologies and advanced capabilities in rapid prototyping and manufacturing. This figure is 70 percent higher than in 2007.

Terms of the cash transaction were not disclosed. The transaction is expected to close by the end of September following regulatory approvals, yet does not affect Boeing’s financial guidance. After the close of the deal, Insitu, which currently has approximately 360 employees, will be a separate subsidiary under Boeing Integrated Defense Systems’ Military Aircraft unit, and also will retain an independent operating model. The goal of the acquisition is to deliver industry leading tactical unmanned systems and services.

A unit of the Boeing Company, Boeing Integrated Defense Systems is a $32.1 billion business with 71,000 employees worldwide.

For more information visit The Boeing Company or Insitu.

Sources: Press materials received from the company and additional information gleaned from the company’s website.