New subsidiary to accelerate development of autonomous technology
Manassas, VA, November 8, 2017 – Boeing [NYSE: BA] completed the acquisition of Aurora Flight Sciences Corporation, a world-class innovator, developer and manufacturer of advanced aerospace platforms and autonomous systems. Aurora will operate under Boeing Engineering, Test & Technology as a subsidiary called Aurora Flight Sciences, A Boeing Company. It will retain an independent operating model while benefiting from Boeing’s resources and position as the leading provider of aerospace products and services.
Boeing first announced the agreement with Aurora on Oct. 5, 2017, pending U.S. government approval. Terms of the approved deal were not disclosed and do not affect Boeing’s financial guidance.
Headquartered in Manassas, Virginia, Aurora has more than 550 employees and operates in six locations including research and development centers in Cambridge, Massachusetts, and Luzern, Switzerland; manufacturing facilities in Bridgeport, West Virginian and Columbus, Mississippi with offices in Dayton, Ohio, and Mountain View, California.
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Forward-Looking Information Is Subject to Risk and Uncertainty
Certain statements in this release may be “forward-looking” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding benefits and synergies of the transaction, and future business prospects, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on current assumptions about future events that may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially from these forward-looking statements. As a result, these statements speak only as of the date they are made and we undertake no obligation to update or revise any forward-looking statement, except as required by law. Specific factors that could cause actual results to differ materially from these forward-looking statements include the effect of global economic conditions, our ability to successfully integrate Aurora Flight Sciences’ business and realize anticipated synergies, and other important factors disclosed previously and from time to time in our filings with the Securities and Exchange Commission.