Do you remember the Penguin VTOL series from Latvia? At the time, the company was called UAV Factory. The company successfully developed its market position in the ISR VTOL space for military purposes, including winning business in the USA. In 2021 UAV Factory and California-based Jennings Aeronautics merged to create Edge Autonomy.
And now in 2025, Edge Autonomy is acquired by RedWire, a NYSE listed company and leader in space infrastructure for the next generation space economy, for $925M.
RedWire's press release is accessible HERE.
The $925 Mio acquisition price is remarkable, justified among other value drivers, by their stunning financials for the (still emerging) drone market: $222 million revenues, $72 million Adjusted EBITDA. Real at scale production facilities, presumably reliable and robust products, field-proven track record with demanding customers, and a large breadth of technologies available onboard their systems.
What a success story
!
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