Red Cat Holdings, Inc. (OTC: RCAT), a leading brand in the drone industry, today announced completion of the acquisition of Fat Shark Holdings, Ltd., the leading provider of headsets and goggles for professional FPV racers and drone pilots with an estimated market share of 85%.
Fat Shark generates approximately $7 million (unaudited) annual revenues, which will significantly increase the reported revenue for the combined companies. This transaction follows the Company's acquisition in January 2020 of Rotor Riot, another leading provider of FPV and drone racing hardware.
"This has been a transformational year for Red Cat," stated Jeff Thompson, CEO. "As we establish our leadership position through our acquisitions, we expect to take significant market share of the drone market that analysts currently forecast will grow to $42.8 billion by 2025." "Fat Shark acquisition adds a fully-integrated supply chain, experienced international manufacturing and sourcing capabilities, and design and development resources. Fat Shark's new digital products provide a platform to fuel our future growth as the industry continues to evolve."
"We are excited to join the Red Cat team," added Greg French, founder and chief technology officer of Fat Shark. "Combining our innovative technology with the marketing acumen of Rotor Riot and the financial support of Red Cat will enable us to accelerate growth in the quarters ahead."
"The drone industry is poised for rapid growth in the years ahead, and we are now extremely well positioned to capitalize on a wide variety of opportunities," commented Chad Kapper, CEO of Rotor Riot. "With the addition of Fat Shark we have paired a quality hardware base with Rotor Riot's robust educational/entertainment brand. Fat Shark's new line of digital headsets with their 'out of the box' functionality meshes perfectly with our popular 'Ready To Fly' (RTF) packages, and we are excited to leverage the strong brand recognition Rotor Riot enjoys while presenting Fat Shark on our YouTube channel and our digital store at www.rotorriot.com."
Video: https://youtu.be/xhkSwsJc438
About Red Cat
Red Cat is developing a fully integrated drone supply chain with secure blockchain-based distributed storage, analytics and SaaS solutions for adoption in the drone industry. Red Cat supports education, training and sales of drone products through its Rotor Riot platform and is developing the means to accurately track, report and review flight data that will be useful for insurance and regulatory requirements. Red Cat's maintains a commitment to deliver unrivaled innovation to make drones aviators and products accountable and the sky a safer place. For additional information, visit www.redcatholdings.com and www.rotorriot.com.
