Boeing Acquires Insitu To Expand Capabilities In Unmanned Systems

Tag : Rapid Prototyping Services
The Boeing Company announced an agreement to acquireInsitu, Inc., a pioneer in the unmanned air systems (UAS) marketand leader in the design, development and manufacture ofhigh-performance, low-cost UAS used for intelligence, surveillanceand reconnaissance (ISR).
Boeing and Insitu have partnered since 2002 and together developedthe successful ScanEagle™ UAS program, which has more than100,000 operational flight hours with the U.S. Department ofDefense and international customers. Insitu's key technologies andadvanced capabilities in rapid prototyping and manufacturing aredriving its revenue to an anticipated $150 million this year, 70percent higher than in 2007, and have it well positioned for thefuture.
"Increasingly our customers are seeking advanced unmanned aerialsolutions to address a wide range of requirements for ISRmissions," said Jim Albaugh, president and CEO of Boeing IntegratedDefense Systems. "The Boeing-Insitu team has been successfullydelivering much-needed capability to the warfighter in a changingthreat environment. Bringing these outstanding teams together willaccelerate deployment of the next generation of unmanned systems toour U.S. and allied service members."
Terms of the cash transaction were not disclosed. This transaction,anticipated to close by the end of September following regulatoryapprovals, does not affect Boeing's financial guidance. Onceacquired, Insitu will be a separate subsidiary under BoeingIntegrated Defense Systems' Military Aircraft unit. It will retainan independent operating model while benefiting from Boeing's vastresources.
"This acquisition is part of a larger plan to aggressively grow ourpresence in the unmanned systems market," said Chris Chadwick,president, Boeing Military Aircraft. "We look forward to buildingupon our existing relationship with Insitu to deliverindustry-leading tactical unmanned systems and services to ourcustomers."
Founded in 1994 as an entrepreneurial start-up, Insitu, located inBingen, Wash., designs, develops and manufactures UAS forcommercial and military applications. It built the first UAS tocross the Atlantic Ocean, and today has approximately 360employees.
"This agreement allows us to leverage the breadth and strength ofBoeing to get our organization to the next level," said StevenSliwa, president and CEO of Insitu. "At the same time, it allows usto retain the unique culture and environment that have driven thecontinuous innovation and entrepreneurial agility that have uspositioned as a leader in our market."