Alpine 4 Technologies has finalised an agreement to acquire Impossible Aerospace (IA), which builds electric aircraft and drones.
The acquisition of Impossible Aerospace, which is headquartered in Santa Clara, California, will mark the entry of Alpine 4 into the commercial drone market.
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Impossible Aerospace’s list of customers includes the US Airforce and City of Santa Clara, along with other municipalities.
Post-acquisition, Impossible Aerospace will operate as a wholly owned subsidiary of Alpine 4.
Impossible Aerospace CEO Spencer Gore said:”Alpine 4 and Impossible Aerospace are combining with a simple mission: to build the nation’s most vertically integrated UAV manufacturer.
“While most domestic drone makers today rely on a jumbled network of third-party vendors for key components, we envision a single factory that receives raw materials in one door and ships validated aircraft out the other – enabling better products, faster development cycles, and higher profit margins. Impossible Aerospace’s shareholders all believe the long-term growth opportunity of the combined company exceeds that of its parts, and are excited to take this next step on the fulfilment of our mission to build the world’s most capable aircraft.”
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By GlobalDataThe transaction will be carried through a reverse triangular merger transaction with Alpine 4’s newly formed subsidiary.
Alpine 4 plans to retain Spencer Gore to help assist in the knowledge transfer of the US-1 Drone.
Subject to final closing conditions, the deal is expected to be completed by the second week of December.
