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BOEING COMPANY (THE) (BA)
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Boeing : to acquire Manassas-based Aurora Flight Sciences

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10/06/2017 | 05:55pm CEST

Aeronautics giant Boeing plans to acquire Manassas-based Aurora Flight Sciences Corporation to advance development of the local company's "game-changing" technology in unmanned aircraft, according to a joint release.

"The combined strength and innovation of our teams will advance the development of autonomy for our commercial and military systems," said Greg Hyslop, chief technology officer and senior vice president of Boeing Engineering, Test & Technology. "Together, these talented teams will open new markets with transformational technologies."

The acquisition could pave the way for fleets of flying taxis, The Wall Street Journal reported Thursday. "Virginia-based Aurora is a specialist in autonomous systems that allow military and commercial aircraft to be flown remotely," according to writer Doug Cameron.

Earlier this year, Uber and Aurora announced the successful test of a small autonomous aircraft that could takeoff and land like a helicopter. The Uber Elevate Network has a goal of 50 aircraft ready for testing by 2020.

Aurora has designed, produced and flown more than 30 unmanned air vehicles since the company was founded in 1989, according to the joint release.

"As an integral part of Boeing, our pioneered technologies of long-endurance aircraft, robotic co-pilots, and autonomous electric VTOLs will be transitioned into world-class products for the global infrastructure," said John Langford, Aurora Flight Sciences founder and chief executive officer.

Terms of the agreement were not disclosed. Once acquired, Aurora will be a subsidiary under Boeing Engineering Test & Technology known as Aurora Flight Sciences, A Boeing Company, and retain an independent operating model.

© Prince William Today © Copyright 2017, Sun Gazette Newspapers, Springfield, VA., source Newspapers

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Financials ($)
Sales 2018 97 930 M
EBIT 2018 11 499 M
Net income 2018 9 788 M
Debt 2018 2 138 M
Yield 2018 1,90%
P/E ratio 2018 21,42
P/E ratio 2019 18,88
EV / Sales 2018 2,13x
EV / Sales 2019 2,00x
Capitalization 207 B
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 398 $
Spread / Average Target 12%
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Managers
NameTitle
Dennis A. Muilenburg Chairman, President & Chief Executive Officer
Jenette E. Ramos Senior Vice President-Supply Chain & Operations
Theodore Colbert Chief Information Officer & SVP-Data Analytics
Gregory L. Hyslop CTO, Senior VP-Engineering, Test & Technology
Kenneth M. Duberstein Director
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