Red Cat Holdings Inc (NASDAQ: RCAT) has entered a new definitive deal that will facilitate its acquisition of a leader in commercial and government unmanned aerial vehicle technology called Teal Drones.
Analysts support the new acquisition
Analysts applaud the company’s decision terming it a step in the right direction. They consider the all-stock transaction a great addition to Red Cat’s portfolio, terming Teal Drones a worthy investment. It is also a decision that tells a lot about the v wide-ranging offerings across North America.
The Teal deal attracts the enterprise group at Red Cat holdings. In other words, a remote inspection company called Skypersonic and Dronebox will be parties to the deal. Dropbox operates as an analytics platform focusing mainly on cloud-based flight intelligence. The Red Cat portfolio will also include a drone imaging and communication company called the Fat Shark and a lifestyle operation focused on the consumer segment known as the Rotor Riot.
Put under one umbrella, the group is a showcasing of an elaborate and diversified array of drone technologies applicable to most of the growing drone industry’s segments.
Top leaders speak out about the deal
The CEO of Red Cat Jeff Thompson, applauds his company’s move to add Teal to the family, which he believes to be crucial in helping Red Cat expand deeper into the government and enterprise spaces.
Thompson opines, “Teal’s Golden Eagle drone platform and its existing access to the Department of Defense combined with the market reach and experience of Red Cat should well-position the joint group for unbridled success as the industry grows.”
Teal’s CEO, George Matus, considers Red Cat’s access to capital and operational expertise to be somewhat supportive attributes. He believes that the two aspects mentioned above will enable them to accomplish quite a lot to enable Teal to rebuild America’s drone industrial base across sectors.
Matus reveals that they are pretty excited about joining hands with their partner and look forward to brighter days ahead.