Mon, Jan 20, 2020
Company Announces Merger Agreement With Leader Of High-Performance FPV Drone Technology
Red Cat Holdings has entered into an agreement to acquire Rotor Riot in a stock and cash transaction. The companies expect the deal to close in mid-January.
“We believe this deal is another significant milestone in our strategy to fuel rapid growth,” said Jeff Thompson, CEO of Red Cat. “Rotor Riot is not only a leading provider of FPV and drone racing hardware, but the company is also a trusted resource and deeply embedded in the global FPV community. Combining our companies will further align our SaaS platform and data capabilities with cutting edge hardware available today, and provide a solid foundation for us to develop and engineer new and exciting technologies for both the drone hobby lifestyle and commercial industry.”
Rotor Riot’s revenue grew approximately 44 percent year-over-year from 2018 to 2019 to approximately $2.6 million. This transaction will provide the resources and combined expertise to drive further growth for both companies. Red Cat will continue to build and accelerate its drone black box and SaaS business and utilize its existing data analytics platform to develop a robust customer support system for Rotor Riot. As part of the deal, Chad Kapper will continue as Rotor Riot’s CEO.
“We have unwavering confidence in the Rotor Riot team to continue building their brand, loyal community, and market-leading products under the steadfast leadership of Chad Kapper and Drew Camden,” added Thompson.
“Rotor Riot was started from the ground up to be a premier source for FPV freestyle drone content and products for the hobby and sport,” said Chad Kapper, CEO of Rotor Riot. “We’ve built a large online subscriber base and our goal is to continue to educate, entertain and inspire the FPV community.”
“As an FPV pilot myself, getting to see Rotor Riot into this next phase is exhilarating. Our dream is to bring FPV drone sports to the mainstream by inspiring people to embrace this hobby and help them overcome the barriers to entry. It’s exciting to partner with Red Cat because they share this vision and their resources will help us double down on our efforts,” said Drew Camden, president of Rotor Riot.
(Source: Red Cat news release)
More News
He Attempted To Restart The Engine Three Times. On The Third Restart Attempt, He Noticed That Flames Were Coming Out From The Right Wing Near The Fuel Cap Analysis: The pilot repor>[...]
Make Sure You NEVER Miss A New Story From Aero-News Network Do you ever feel like you never see posts from a certain person or page on Facebook or Instagram? Here’s how you c>[...]
From 2009 (YouTube Edition): Leading Air Show Performers Give Their Best Advice for Newcomers On December 6th through December 9th, the Paris Las Vegas Hotel hosted over 1,500 air >[...]
Aero Linx: NASA ASRS ASRS captures confidential reports, analyzes the resulting aviation safety data, and disseminates vital information to the aviation community. The ASRS is an i>[...]
“For our inaugural Pylon Racing Seminar in Roswell, we were thrilled to certify 60 pilots across our six closed-course pylon race classes. Not only did this year’s PRS >[...]
NTSB Final Report: Rutan Long-EZ
See All