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    Tuesday, July 22, 2008

    Insitu Acquired By Boeing


    Aircraft maker Boeing said Tuesday morning that it has acquired Bingen, Washington-based Insitu, a developer of unmanned aircaft systems used by the Department of Defense. According to the firms, Insitu will become a wholly owned subsidiary of Boeing's Integrated Defense Systems' Military Aircraft division. Financial terms of the deal were not disclosed. Insitu was venture backed by Battery Ventures, Second Avenue partners, and Pteranodon Ventures. Insitu most recently raised $25M in a venture round in December of 2007. Insitu has worked with Boeing on its ScanEagle unmanned aircraft system since 2002.
    posted on Tuesday, July 22, 2008


    Related stories:
    > Insitu Taps Guthrie as CTO
    > Insitu Appoints Kent as Chief Financial Officer
    > Insitu Group Gets $23M
    > Insitu Raises $25M
    > General Software Acquired By Embedded Software Firm
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