Tuesday, September 9, 2008

Boeing Completes Acquisition of Insitu

Boeing Completes Acquisition of Insitu

ST. LOUIS, Sept. 09, 2008 -- The Boeing Company [NYSE: BA] has completed its acquisition of 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.

Insitu, located in Bingen, Wash., designs, develops and manufactures UAS for commercial and military applications. This acquisition, first announced on July 22, 2008, is part of a larger plan to increase Boeing's presence in the unmanned systems market.

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.

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, and the world's largest and most versatile manufacturer of military aircraft. Headquartered in St. Louis, Boeing Integrated Defense Systems is a $32.1 billion business with 71,000 employees worldwide.

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