Foro de Inteligencia, Espionaje y Servicios Secretos

Boeing Acquires Insitu to Expand Capabilities in Unmanned Systems

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ST. LOUIS, July 22, 2008 — The Boeing Company [NYSE: BA] today announced an agreement to acquire Insitu, Inc., a pioneer in the unmanned air systems (UAS) market and leader in the design, development and manufacture of high-performance, low-cost UAS used for intelligence, surveillance and reconnaissance (ISR).

Boeing and Insitu have partnered since 2002 and together developed the successful ScanEagle™ UAS program, which has more than 100,000 operational flight hours with the U.S. Department of Defense and international customers. Insitu's key technologies and advanced capabilities in rapid prototyping and manufacturing are driving its revenue to an anticipated $150 million this year, 70 percent higher than in 2007, and have it well positioned for the future.

"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. "The Boeing-Insitu team has been successfully delivering much-needed capability to the warfighter in a changing threat environment. Bringing these outstanding teams together will accelerate deployment of the next generation of unmanned systems to our U.S. and allied service members."

Terms of the cash transaction were not disclosed. This transaction, anticipated to close by the end of September following regulatory approvals, does not affect Boeing's financial guidance. Once acquired, Insitu will be a separate subsidiary under Boeing Integrated Defense Systems' Military Aircraft unit. It will retain an independent operating model while benefiting from Boeing's vast resources.

"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."

Founded in 1994 as an entrepreneurial start-up, Insitu, located in Bingen, Wash., designs, develops and manufactures UAS for commercial and military applications. It built the first UAS to cross the Atlantic Ocean, and today has approximately 360 employees.

"This agreement allows us to leverage the breadth and strength of Boeing to get our organization to the next level," said Steven Sliwa, president and CEO of Insitu. "At the same time, it allows us to retain the unique culture and environment that have driven the continuous innovation and entrepreneurial agility that have us positioned as a leader in our market."
A unit of The Boeing Company, Boeing Integrated Defense Systems is one of the world's largest space and defense businesses specializing in innovative and capabilities-driven customer solutions. Headquartered in St. Louis, Boeing Integrated Defense Systems is a $32.1 billion business with 71,000 employees worldwide.

Leading Unmanned Aircraft Systems Developer Insitu, Inc. to be Acquired by Boeing


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BINGEN, Washington, July 22, 2008 – In a move to further strengthen its
position as a global leader in the unmanned systems market, Insitu, Inc.
announced today it has agreed to be acquired by The Boeing Company, the
world’s largest manufacturer of commercial jetliners and military aircraft. Insitu,
based in Bingen, Wash., designs, develops, and manufactures high-
performance and low-cost Unmanned Aircraft Systems (UAS) for Intelligence,
Surveillance, and Reconnaissance (ISR).

In this new relationship, Insitu will operate as a wholly owned subsidiary
of Boeing’s Integrated Defense Systems’ Military Aircraft division. “This was a
strategic move to equip us to better serve our customers,” said Steven Sliwa,
President and CEO of Insitu. “It secures our future by allowing us to leverage
the breadth and strength of The Boeing Company. At the same time, this
independent subsidiary model lets us retain the unique qualities of our business
culture and environment that have driven the continuous innovation,
entrepreneurial agility, and customer-oriented solutions which have positioned
us as a leader in our market.”

Boeing and Insitu have partnered since 2002 on the ScanEagle™ UAS
program, which has accumulated more than 100,000 hours of operational flight
hours with a range of US Government and international customers. The
ScanEagle system has proven to give warfighters significant tactical
surveillance advantages that aren’t replicated in the marketplace.

“We have realized tremendous success with our partnership to date,
delivering industry leading technology and services together,” commented
Charlie Guthrie, Insitu’s Chief Technology Officer. “This new collaboration
permits us to further reach into the talent and resources of The Boeing
Company to enhance and streamline the overall experience for our customers.“

The transaction, anticipated to close by end of September, is subject to
customary conditions and approval. Insitu, Inc. retained investment bankers
Houlihan Lokey for the acquisition, and terms of the sale were not disclosed.
Insitu’s investors are led by Battery Ventures, Second Avenue Partners, and
Pteranodon Ventures.