The Boeing Company acquired Insitu, Inc., a transaction completed in September 2008, structured as Cash (terms not disclosed).
Insitu, Inc. operates in Integrated Defense Systems (unmanned systems), is based in Bingen, Washington, had revenue of about Approximately $150 million anticipated for 2008 (per Boeing's announcement). Boeing acquired Insitu, a pioneer in small unmanned air systems best known for the ScanEagle, which Boeing and Insitu had developed together since 2002. Insitu designs and builds high-performance, low-cost unmanned aircraft used for intelligence, surveillance and reconnaissance by military and commercial customers. The acquisition deepened Boeing's presence in the unmanned-systems market. Terms of the cash transaction were not disclosed.
Part of a broader Boeing plan to expand its presence in the unmanned-systems market, building on the jointly developed ScanEagle program.
A proven small-UAS franchise (ScanEagle) with rapid-prototyping and low-cost manufacturing strengths in a fast-growing ISR market. Operated as a separate subsidiary under Boeing Integrated Defense Systems' Military Aircraft unit, retaining an independent operating model.
Advisory firms were not disclosed for this transaction.