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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 2017 92 093 M
EBIT 2017 9 375 M
Net income 2017 6 869 M
Debt 2017 1 900 M
Yield 2017 2,13%
P/E ratio 2017 23,55
P/E ratio 2018 21,88
EV / Sales 2017 1,72x
EV / Sales 2018 1,69x
Capitalization 156 B
Duration : Period :
Boeing Company (The) Technical Analysis Chart | BA | US0970231058 | 4-Traders
Technical analysis trends BOEING COMPANY (THE)
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Mean consensus OUTPERFORM
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Average target price 273 $
Spread / Average Target 3,1%
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Dennis A. Muilenburg Chairman, President & Chief Executive Officer
Jenette Ramos Senior Vice President-Supply Chain & Operations
Gregory D. Smith CFO & EVP-Enterprise Performance & Strategy
Ted Colbert Chief Information Officer
Gregory L. Hyslop CTO, Senior VP-Engineering, Test & Technology
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