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Wednesday, July 23, 2008

Boeing to Acquire Insitu

Boeing announced plans Wednesday to acquire Insitu, a developer of unmanned air systems (UAS). Terms of the transaction, which is anticipated to close by the end of the September, were not disclosed. Boeing and Insitu, Bingen, Wash., have partnered since 2002 and jointly developed the ScanEagle UAS program. "Increasingly our customers are seeking advanced unmanned aerial solutions to address a wide range of requirements for ISR missions," said Jim Albaugh, president and CEO of Boeing Integrated Defense Systems. "Bringing these outstanding teams together will accelerate deployment of the next generation of unmanned systems to our U.S. and allied service members." Once acquired, Insitu will be a separate subsidiary under Boeing Integrated Defense Systems' Military Aircraft unit. "This acquisition is part of a larger plan to aggressively grow our presence in the unmanned systems market," said Chris Chadwick, president, Boeing Military Aircraft. "We look forward to building upon our existing relationship with Insitu to deliver industry-leading tactical unmanned systems and services to our customers." For related news

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