Red Cat set for Fat Shark Holdings acquisition expanding FPV drone business

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Red Cat Holdings has confirmed the signing of a definitive agreement to acquire Fat Shark Holdings.

The transaction, subject to customary conditions, is expected to close on or before November 1.

Founded in 2007, Fat Shark is a leading provider of headsets and goggles for professional racers and drone pilots with an estimated market share of 85%.

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Fat Shark is presently generating approximately $7 million (unaudited) in annual revenues which will significantly increase the revenue base of the combined companies.

This transaction follows the Company’s acquisition in January 2020 of Rotor Riot, a leading provider of FPV and drone racing hardware.

Jeff Thompson, CEO of Red Cat, said: “Our expected acquisition of Fat Shark strengthens our position by providing direct access to premier FPV technology favored by professional racers and drone enthusiasts alike.  The combination not only provides a fully-integrated supply chain but adds design and development capabilities as well as international manufacturing and distribution.

“Greg French and Allan Evans bring world-renowned skills and decades of experience to our team.  Fat Shark’s existing digital platform and innovation also provides a valuable road map to fuel our future growth and our expansion into the enterprise drone market.”

Adding: “Importantly, it positions us to continue to develop and introduce innovative products and solutions as commercial applications of drone technology expand in the coming years.”

Tags : DroneFPVRed Cat
Alex Douglas

The author Alex Douglas

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