Salt Lake City-based Red Cat Holdings announced its plans to acquire engine parts manufacturer Steyr Motors in a $230 million deal.
The U.S.-based provider of advanced all-domain drone and robotic solutions for defense and national security announced Monday a proposed voluntary public cash offer of EUR 39.00 per share.
According to the company’s statement, Red Cat’s vision for Steyr Motors is “centered on growth, investment and long-term partnership,” with the combination creating a stronger platform to serve defense and government customers worldwide.
Julian Cassutti, CEO of Steyr Motors AG, told investors: “Four years into Steyr Motors’ transformation, I am very excited to lead its next chapter with Red Cat as a strategic partner on our side. Our engineering and Red Cat’s reach into international markets are the basis for joint growth, and Red Cat stands firmly behind our site and our people. For our shareholders, the all-cash offer is a chance to realize their investment in cash today. I stand behind this step, and I intend to tender my own shares alongside them.”
“The potential transaction highlights Steyr Motors’ strategic appeal and presents an opportunity to further accelerate international expansion, tap into new markets, and sustainably strengthen access to key resources,” said Dr. Rolf Wirtz, Chairman of the Supervisory Board of Steyr Motors AG. “The Supervisory Board sees significant strategic potential in the proposed combination. Subject to review of the legal and economic terms and conditions such as published in the offer document, we view the potential transaction favorably.”
Red Cat and Steyr Motors previously held non-binding discussions about a potential transaction, which they discontinued in July 2026.
After completing the proposed transaction, Red Cat intends to keep Steyr Motors’ headquarters, manufacturing operations, and R&D presence in Austria.
Shares in Steyr jumped 20% following the announcement.
By CEO NA Editorial Staff
