Textron to acquire Pipstrel.

Textron, a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses, agreed to acquire Pipstrel, a company which offers a family of gliders and light aircraft with both electric and combustion engines. Financial terms were not disclosed. “Pipistrel puts Textron in a uniquely strong position to develop technologies for the sustainable aviation market and develop a variety of new aircraft to meet a wide range of customer missions. Today’s announcement supports Textron’s long-term strategy to offer a family of sustainable aircraft for urban air mobility, general aviation, cargo and special mission roles,” Scott Donnelly, Textron Chairman and CEO.