Crimson Cat to Purchase Fats Shark Expands Presence within the First-Individual View (FPV) Drone Enterprise – Drones Information
DRL champion and Rotor Riot driver Alex Vanover wears Fat Shark glasses.
Red Cat Holdings, Inc. (RCAT: OTC) announced today that it has signed a definitive agreement to acquire Fat Shark Holdings, the leader in FPV headsets. The transaction is expected to close on or before November 1, 2020 under customary conditions.
Fat Shark was founded in 2007 and is the leading provider of headsets and goggles for professional racing drivers and drone pilots with an estimated market share of 85%. Fat Shark currently has approximately $ 7 million in annual sales (unaudited) which will significantly improve the combined companies’ sales base. This transaction follows the company’s acquisition of Rotor Riot, a leading provider of FPV and drone racing hardware, in January 2020.
“Our anticipated acquisition of Fat Shark strengthens our position by providing direct access to world-class FPV technology that is preferred by both professional racers and drone enthusiasts. The combination not only provides a fully integrated supply chain, but also expands design and development capabilities, as well as international manufacturing and sales. Greg French and Allan Evans bring world-renowned skills and decades of experience to our team. Fat Shark’s existing digital platform and innovation also provides a valuable roadmap to drive our future growth and expansion into the enterprise drone market, “said Jeff Thompson, CEO of Red Cat. “It is important that we can continue to develop and introduce innovative products and solutions as the commercial applications of drone technology increase in the coming years.”
“Red Cat has proven to be a leader in the FPV sector of the drone industry and we are excited to join their growing team of business professionals,” said Greg French, Founder and CTO of Fat Shark. Allan Evans, CEO of Fat Shark, added, “We are excited to be supporting and integrating feedback from the top Rotor Riot pilots as we develop and expand our digital video systems. Rotor Riot is particularly well positioned to help us develop better FPV products, as well as expand into corporate training and field solutions. ”
“In adding Fat Shark to Red Cat’s portfolio, we have combined a high quality hardware foundation with Rotor Riot, a robust education and entertainment brand,” said Chad Kapper, CEO of Rotor Riot. The new range of digital headsets from Fat Shark with their ready-to-use functionality is a perfect match for our popular RTF (Ready To Fly) packages. We are happy to advertise their functionality on our YouTube channel and in our digital shop at www.rotorriot.com and to take advantage of the strong brand awareness of Rotor Riot. We believe the addition will also enable us to further expand into the emerging markets for games and augmented reality (AR) with future innovative products. “
About Red Cat Holdings, Inc.
Red Cat is developing a fully integrated supply chain for drones with secure blockchain-based distributed storage, analytics and SaaS solutions for adoption in the drone industry. Red Cat supports the education, training and sales of drone products through its Rotor Riot platform and develops the means to accurately track, report and review flight data useful for insurance and regulatory requirements. Red Cat continues to strive to deliver unrivaled innovation to hold drone pilots and products accountable and make the skies safer.
More information is available at www.redcatholdings.com and www.rotorriot.com.