06:25 AM EST, 01/21/2025 (MT Newswires) -- Redwire's ( RDW ) stock jumped early Tuesday as the space infrastructure technology company agreed to acquire Edge Autonomy in a cash and stock deal worth $925 million, expanding its space platforms portfolio to include Edge's unmanned technology.

Redwire ( RDW ) will pay $150 million in cash and $775 million in shares at $15.07 apiece under the terms of the transaction, it said in a Monday statement. The deal, which requires approval from regulators and clearance from Redwire's ( RDW ) shareholders, is expected to complete in the second quarter.

Shares of Redwire ( RDW ) advanced 12% in premarket activity.

Edge Autonomy, a provider of unmanned airborne system technology, has 600 employees with manufacturing and production in the US and Europe. Following the completion of the deal, the firm and its subsidiaries will become wholly owned units of Redwire ( RDW ).

Redwire ( RDW ) said the deal will broaden its portfolio of mission-critical space platforms to include combat-proven autonomous airborne systems. "The combination of Redwire ( RDW ) and Edge Autonomy creates a uniquely positioned space and defense company focused on two of the fastest growing trends in defense technology," Redwire ( RDW ) Chief Executive Peter Cannito said in a statement.

Redwire ( RDW ) expects the deal to bolster revenue, adjusted earnings before interest, taxes, depreciation and amortization and free cash flow. As a combined company, Redwire ( RDW ) expects full-year 2025 revenue to be in a range of $535 million to $605 million.

The company may fund the cash portion of the acquisition price with money on its balance sheet or proceeds from new committed debt facilities, it said. Redwire ( RDW ) may also decide to use proceeds by raising cash in a common equity financing, which could change the $15.07 per-share price.

"We are extremely excited to join forces with Redwire ( RDW ) and merge two industry leaders in advanced multi-domain technologies," Edge Autonomy CEO Steve Adlich said. "Both companies are committed to technology innovation, reliability and satisfying customer demand, and we see significant synergies within our collective capabilities that will positively impact both businesses and enable continued growth."