04:19 AM EST, 01/21/2025 (MT Newswires) -- Redwire Corporation ( RDW ) said Monday it has agreed to acquire Edge Autonomy, a provider of unmanned airborne system technology, for $925 million in cash and stock.

Under the terms of the agreement, Redwire ( RDW ) said it will pay $150 million in cash and about $775 million in shares at $15.07 per share.

The transaction, subject to a vote by Redwire ( RDW ) shareholders, is expected to close in Q2, the company said.

Following the merger, Edge Autonomy and its subsidiaries will become wholly-owned subsidiaries of Redwire ( RDW ), the company said.

Redwire ( RDW ) said it expects the acquisition to be accretive to revenue, adjusted EBITDA and free cash flow.

The company said the acquisition broadens its portfolio of space offerings to include autonomous airborne platforms.