Redwire Corp. announced an acquisition agreement Jan. 20 that will significantly grow the size of the Jacksonville-based space technology company.
Redwire agreed to buy Edge Autonomy, a provider of uncrewed airborne system technology, for $925 million in cash and stock.
Uncrewed aircraft systems are commonly called drones, but are more advanced and complex than what is used by the public.
The companies combined are projected to produce 2025 revenue between $535 million and $605 million, nearly double Redwire’s 2024 revenue at the high end of the range.
Redwire has been projecting $310 million in revenue for 2024, and Edge Autonomy produced $222 million in revenue in the 12 months ended Sept. 30.
The addition of the San Luis Obispo, California-based Edge Autonomy will broaden Redwire’s portfolio of space platforms to include combat-proven autonomous airborne platforms, the company said.
Edge Autonomy produces technology for long endurance, long range reconnaissance missions which can be deployed quickly, Redwire said.
Uncrewed
“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,” Redwire CEO Peter Cannito said in a news release.
“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,” he said.
Redwire is taking advantage of a big jump in its stock price last year to finance the transaction.
The deal calls for Redwire to pay $150 million in cash and shares of Redwire common stock valued at $775 million, based on its recent trading price.
Redwire’s stock was the biggest gainer among Jacksonville-based companies in 2024, rising from $2.85 at the beginning of the year to $16.46 at the close Dec. 31, a 478% gain.
Redwire expects to close the acquisition in the second quarter of 2025.