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TICKERS: TFVR

One Tech Company in Drone Space to Acquire Another
News Update

Source:

For the firm looking to grow rapidly, this move is a significant milestone.

Red Cat Inc. (TFVR:OTC) announced in a news release it signed a letter of intent to acquire Rotor Rio, a drone technology and media company.

"Combining our companies provides a solid foundation for us to build upon the success of Rotor Riot's well-established influence and follower base, as we develop new and exciting technologies that advance the freestyle, racing and commercial drone industry," Red Cat's CEO Jeff Thompson said in the release.

Red Cat provides blockchain-based distributed storage, analytics and software as a service to the drone industry.

A founding member of the First Person View (FPV) Freedom Coalition, Red Cat "continues to advocate for airspace for recreational drone pilots and FPV operators, provides safety and education guidelines compliant with the Federal Aviation Administration (FAA) and integrates the FPV community into the regulatory framework as an FAA community-based organization," the release noted.

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